Chinese Renminbi (CNY)

QUOTE AND NEWS
newratings.com  Aug 23  Comment 
BEIJING (dpa-AFX) - The Chinese yuan strengthened against the U.S. dollar in the pre-European session on Tuesday. Against the greenback, the yuan rose to a 4-day high of 6.6441 from an early low of 6.6565. At yesterday's close, the yuan was...
newratings.com  Aug 17  Comment 
BEIJING (dpa-AFX) - Chinese photovoltaic company JA Solar Holdings Co. Ltd. (JASO) Wednesday said its second-quarter net income was 164.1 million Chinese yuan or $24.7 million, higher than last year's 136.0 million yuan or $20.5 million....
The Economic Times  Aug 15  Comment 
When the yuan crumbled way back in August of 2015, it took the rupee down with it, as it depreciated close to five per cent in the following month.
newratings.com  Aug 15  Comment 
BEIJING (dpa-AFX) - The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday. Against the greenback, the yuan fell to a 5-day low of 6.6480 from an early high of 6.6324. If the yuan extends its downtrend, it is likely to...
Clusterstock  Aug 15  Comment 
BEIJING (Reuters) - The internationalization of the yuan has exceeded people's expectations and its global acceptance will be driven by market forces, Yi Gang, a China central bank vice governor, said on Monday. China will continue to reform its...
Financial Times  Aug 12  Comment 
Issuance of renminbi-denominated debt backed by IMF currency basket could also revive SDR market
newratings.com  Aug 12  Comment 
BEIJING (dpa-AFX) - China's bank lending declined more than expected in July, figures from the People's Bank of China showed Friday. Banks provided CNY 463.6 billion new yuan loans in July, less than economists' forecast of CNY...
MarketWatch  Aug 11  Comment 
U.S. stocks have come a long way since the currency devaluation triggered one of the worst selloffs since the financial crisis.
The Hindu Business Line  Aug 11  Comment 
Asian shares fell on Thursday, reversing recent gains following losses on Wall Street, though regional currencies rose after Beijing let the Chinese yuan strengthen to mark the one-year anniversary o...




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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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