is the yuan pegged to the dollar 
the yuan has been pegged to a basket of international currencies which includes the u s dollar since 2005 this allows the country s central bank to maintain full control of the currency by setting a daily rate of parity against the greenback any changes to the rate are restricted meaning they can only fall within 2 of that mark the yuan was pegged solely to the u s dollar before this in 1994 the peg was set at 8 28 yuan to a single u s dollar its major trading partners put pressure on china s leaders to allow it to appreciate against the dollar in 2005 