What are Chinese Yuan?
The Yuan is the base unit of several former and present day Chinese currencies. The futures are traded as Renminbi and according to ECR Research: “China’s currency is officially called the Renminbi” with a futures symbol of RMB.
Uses of Chinese Yuan
The Chinese Yuan is the official currency and is used to buy goods and/or services in China.
Risks of the Chinese Yuan
China is the world’s largest exporter and is also the second-largest economy, with the United States being the largest. Trading the Yuan can be volatile with the central bank having a much greater influence on the currency than western central banks.