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CNY – XtremeCuztoms

Category: CNY

CNY Mainly ‘Internationalized’ in Offshore Hong Kong

Commentary Recently, Xi Jinping of mainland China visited Saudi Arabia, arousing speculation of some new deals to be done. Specifically, some nationalists expect a substantial portion of Saudi oil exported to China to be settled in the Chinese Yuan (CNY) rather than the U.S. dollar. Such wishful thinking is obviously self-defeating by looking at the…


The Chinese CNY Is Far From Achieving Internationalization

The Chinese Yuan’s (Renminbi, CNY) recent depreciation aroused concerns. It had been steady before the summer but all of a sudden it depreciated by a few thousand points against the U.S.Ddollar (US$). In the past five months, it went from an exchange rate of 6.37 to 7.00, a depreciation of exactly 10 percent. When the…