Chinese Renminbi (CNY)

QUOTE AND NEWS
SeekingAlpha  Jul 18  Comment 
One of the oldest games in the foreign exchange market is to always buy the currencies of strong countries that are growing and to sell short the currencies of the weak countries that are shrinking. Any doubts that China's Yuan is a huge...
The Economic Times  Jul 18  Comment 
The People's Bank of China(PBOC) fixed its official rate at 6.1568 per dollar, only 0.01 per cent weaker than Thursday.
DailyFinance  Jul 17  Comment 
REDWOOD CITY, CA -- (Marketwired) -- 07/17/14 -- Yasheng Group (OTCQB: HERB), a high-growth diversified China-based agricultural conglomerate with U.S. headquarters in Redwood City, California, today announced that it has entered into a joint...
newratings.com  Jul 17  Comment 
BEIJING (dpa-AFX) - The Chinese yuan climbed against the U.S. dollar in Asia on Thursday. The yuan hit 6.2013 against the greenback, setting a 1-week high. On the upside, 6.19 is seen as next possible resistance level for the yuan. The pair was...
newratings.com  Jul 16  Comment 
BEIJING (dpa-AFX) - China's housing sales declined in the first half of 2014, data from the National Bureau of Statistics showed Wednesday. Home sales were down 9.2 percent from last year to CNY 2.56 trillion, it said. Meanwhile, property...
The Economic Times  Jul 16  Comment 
China's economy grew 7.5 per cent between April and June from a year earlier, slightly above expectations and quickening from the 7.4 per cent pace in the first quarter.
newratings.com  Jul 15  Comment 
BEIJING (dpa-AFX) - Bank lending as well as money supply growth in China exceeded expectations in June as Beijing beefed up measures to rejuvenate economic growth into the second quarter. Bank lending increased notably to CNY 1.08 trillion in...
Yahoo  Jul 15  Comment 
Northern Hebei province, whose 4.2 percent first-quarter expansion pace was less than half that of a year earlier, will invest 1.2 trillion yuan ($193 billion) in areas including railways, energy and housing. Heilongjiang province in the...
Reuters  Jul 15  Comment 
Major Chinese banks have temporarily suspended a yuan remittance service after a state broadcaster accused the country's fourth biggest lender Bank of China (BOC) of allowing wealthy Chinese to launder money offshore through the scheme, the Wall...




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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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