Chinese Renminbi (CNY)

QUOTE AND NEWS
Wall Street Journal  Sep 12  Comment 
The U.K. will become the first Western government to issue renminbi-denominated sovereign debt.
The Straits Times  Sep 11  Comment 
September 12, 2014 12:37 AM SINGAPORE'S efforts to boost its status as an offshore yuan hub could help it become a dominant global player within five years, according to an analyst.
The Economic Times  Sep 11  Comment 
The People's Bank of China fixed the midpoint at 6.1453 per dollar prior to market open, down 0.05 per cent from the previous day's 6.1425.
newratings.com  Sep 10  Comment 
BEIJING (dpa-AFX) - The Chinese yuan advanced against the U.S. dollar in Asian deals on Wednesday. The yuan climbed to 6.1303 against the greenback, a level not seen since March 14. If the yuan extends gain, it may possibly find resistance around...
Forex News  Sep 9  Comment 
The Chinese yuan gained today as the nation’s central bank raised its daily reference rate by the most in almost four years after yesterday’s positive trade data.(...)Read the rest of Yuan Rises as PBoC Raises Fixing by Most Since 2010...
Bloomberg  Sep 9  Comment 
Yuan Climbs to Six-Month High as Fixing Set Strongest Since 2010 China’s yuan rose to a six-month high as the central bank raised its fixing by the most in almost four years...
Bloomberg  Sep 8  Comment 
The offshore yuan climbed to a six- month high after a report showed China’s trade surplus rose to a record and export growth beat estimates.
Reuters  Sep 5  Comment 
The rupee will likely stagnate over the next year as a U.S. dollar rally gathers steam and the Indian economy at best chugs along, while the Chinese yuan will probably appreciate a little, a Reuters poll found.
The Economic Times  Sep 5  Comment 
Spot yuan stood at 6.1411 by midday, 0.04 per cent softer from Thursday's close, almost unchanged on the week.




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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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