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Yuan

The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.

Softness in the city’s currency reflects a flushed banking system rather than economic weakness

Hong Kong dollar weakens as Chinese yuan stabilises

The Hong Kong dollar has weakened modestly this year even as the yuan has been stabilising and other Asian currencies rallied, but its softness reflects a flushed banking system rather than signs of economic weakness in the city, analysts say.