Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  5 hrs ago  Comment 
Indonesia's rupiah gained for the day on sustained foreign stock buying, while South Korea's won ticked higher on exporters' demand for month-end settlements.
Forbes  May 30  Comment 
The locally made Jeep Renegade subcompact crossover has been launched on the Chinese car market. Price starts at 141,800 yuan and ends at 178,880 yuan ($21,500 - 27,100).
Wall Street Journal  May 30  Comment 
China’s central bank set the daily yuan-fixing against the dollar at its weakest level since February 2011, after hawkish comments from Federal Reserve Chairwoman Janet Yellen.
The Economic Times  May 30  Comment 
The yuan is showing fresh sign of weakness against the dollar as the country struggles to revive its exporter-driven economy that faces contraction.
The Hindu Business Line  May 30  Comment 
The yuan weakened to hover around its end-January lows on Monday, after the central bank fixed the softest midpoint against the dollar since 2011 as expectations of a US interest rate hike grow. F...
Motley Fool  May 29  Comment 
Here comes a 4K drone which costs less than GoPro’s 4K camera.
SeekingAlpha  May 28  Comment 
Financial Times  May 27  Comment 
Investors’ immunity likely to be shortlived as symptoms of greater malady begin to show
Reuters  May 27  Comment 
China's top economic planner approved two projects on Friday with a total investment value of 54.69 billion yuan ($8.34 billion), according to a statement published on the National Development and Reform Commission website.




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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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