Is the Chinese yuan still pegged to the US dollar?

Question

How do I know, I know their dollar was in the $8's a few years back and has decrease to the $6's, but does this mean it is still pegged? How do I know?

Answer 1

No. However they still  manipulate the value of their currency and it does not vary much against the EURO and did not fall with the dollar over the last year. See 5 year plot on Yahoo and you can see when they  "un pegged" it

http://finance.yahoo.com/echarts?s=USDCN...