Chinese Renminbi (CNY)

QUOTE AND NEWS
TheStreet.com  5 hrs ago  Comment 
NEW YORK (TheStreet) -- China's quest to get the yuan recognized as a reserve currency by the International Monetary Fund (IMF)  could trickle down to affect gold, says Jim Rickards, best-selling author of Currency Wars and The Death of Money. ...
newratings.com  Jun 24  Comment 
BEIJING (dpa-AFX) - The Chinese yuan strengthened against the U.S. dollar in the Asian session on Wednesday. In economic news, data from the Conference Board showed that a leading index for the Chinese economy spiked in May, rising 1.1 percent....
The Economic Times  Jun 24  Comment 
The spot market opened at 6.2065 per dollar and was changing hands at 6.2085 at midday, 0.03 per cent weaker than the previous close.
Channel News Asia  Jun 23  Comment 
The Atlantic Council, an international think-tank, has released a white paper outlining the path for greater Renminbi (RMB) acceptance, highlighting the role of RMB hubs such as Singapore.
The Economic Times  Jun 23  Comment 
The People's Bank of China (PBOC) set the midpoint rate at 6.1119 per dollar prior to market open, only 0.02 per cent weaker than the previous fix at 6.1104.
newratings.com  Jun 23  Comment 
BEIJING (dpa-AFX) - The Chinese yuan strengthened against the U.S. dollar in the Asian session on Tuesday amid optimism that Greece will finally reach an agreement with its international creditors later this week. In economic news, Chinese HSBC...
The Straits Times  Jun 22  Comment 
June 23, 2015 1:49 AM FUND manager UOB Asset Management (UOBAM) will soon allow investors direct access to onshore yuan financial solutions, it said yesterday.
Financial Times  Jun 22  Comment 
Comments by PBoC show Beijing vision of renminbi convertibility falls short of full deregulation
Financial Times  Jun 22  Comment 
The IMF should expand special drawing rights inclusion beyond the renminbi
SeekingAlpha  Jun 21  Comment 




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The Chinese Renminbi ("人民币"), the official currency of the People's Republic of China, is issued by the People's Bank Of China (“中国人民银行”, a.k.a. PBOC), the monetary authority of the PRC. Though commonly used interchangeably, the Yuan is in fact the principle currency unit within the Renminbi. The units for the Renminbi are the Yuan (元), Jiao (角), Fen (分), where 1 Yuan = 10 Jiao = 100 Fen. The Yuan is the primary unit of the Renminbi. The Chinese Renminbi literally means the "People's Currency".

Abbreviations for the Renminbi include RMB, CNY.

The value of the RMB had historically been pegged to the U.S. dollar, but since 2005, the Renminbi exchange rate has been allowed to float around a fixed base rate. The base rate is determined by the PBOC, with a reference to a basket of world currencies.

RMB notes are available in the following amounts: 100, 50, 20, 10, 5, and 1 yuan, and beneath the 1-yuan level at 5 Jiao and 1 Fen.

For a discussion of its revaluation, see Revaluing the Yuan.

The chart at left shows the USD/CNY currency pair; the number of Chinese Renminbi equivalent to 1 U.S. Dollar (USD).

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