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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.

 
The mainland's foreign exchange chief says the yuan's current price moves of about 1 per cent are not large. Photo: Bloomberg

Investors warned of more fluctuations in yuan

The mainland's foreign exchange chief has warned investors to expect more fluctuations in the value of the yuan as the currency moves towards a more market-based trading system and said current price moves were not large.