Chinese Yuan (CNY) continued its impressive performance against the US dollar (USD). It also kept the exchange rate at 6.3643 as of 15 December 2021.
CNY had outperformed USD throughout 2021, with the record high on 8 December 2021. The exchange rate was pegged at 6.3444.
Quoting CFETS RMB Index that tracks Yuan's performance against 24 currencies, CNN news channel said CNY had soared more than 8% in 2021. It was just 0.26% short of its previous record high set in November 2015.
Yuan remained stable despite the energy crunch and China's property giant Evergrande's collapse in the real estate sector.
Several Reasons
Several factors, both internal and external, have helped in CNY's stellar performance in 2021.
Internal factors include robust trade surplus. It hit $72 bill...
