Chinese Yuan

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.

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