Chinese Renminbi (CNY)

QUOTE AND NEWS
CNNMoney.com  Aug 13  Comment 
China's central bank is rushing to calm fears over the yuan's plunge in recent days.
CNNMoney.com  12 hrs ago  Comment 
newratings.com  Aug 10  Comment 
BEIJING (dpa-AFX) - 51job Inc (JOBS) Monday reported second-quarter net income of 136.95 million yuan or 2.33 yuan per share, up from 51.96 million yuan or 0.86 yuan per share last year. Net revenues rose to 497.4 million yuan from 441.0 million...
MarketWatch  Aug 10  Comment 
Demand for long-term Treasury bonds has been rising over the past four weeks, as an overarching flight-to-safety theme has emerged out of the global rout in commodities sparked in part by worries about a slowdown in China’s economy. A surprise...
Clusterstock  Aug 10  Comment 
As its economy slows and its stock markets whip violently up and down, China faces a brutal choice. It can let the value of its currency, the yuan, fall and risk capital leaving the country. Or it can maintain the value of the yuan as it has...
Yahoo  Aug 10  Comment 
Alibaba Group Holding Ltd will invest $4.6 billion in leading Chinese electronics retailer Suning Commerce Group Co Ltd, its biggest step yet towards integrating online and store-based shopping. Alibaba is paying 28.3 billion yuan ($4.56 billion)...
The Economic Times  Aug 10  Comment 
But the yuan remained stable as the authorities appear eager to keep it steady in the face of stresses on the economy, traders said.
The Economic Times  Aug 7  Comment 
China will likely keep its yuan currency steady over the coming year even as it widens the daily trading band in a symbolic sign.
The Economic Times  Aug 7  Comment 
China's yuan was little changed versus the dollar on Friday as the central bank continued to keep the currency steady.




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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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