Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  Oct 10  Comment 
China's yuan slipped on Friday as investors consolidated gains in a holiday-shortened week ahead of a raft of data next week.
Finance Asia  Oct 9  Comment 
The UK government has begun the planned sale of its renminbi bond, the world’s first non-Chinese sovereign bond in the currency.
Wall Street Journal  Oct 9  Comment 
The U.K. Treasury said it has hired banks to manage its proposed sale of renminbi debt, the first ever government bond in that currency outside of China.
BBC News  Oct 9  Comment 
Why is Britain issuing debt denominated in renminbi?
The Economic Times  Oct 9  Comment 
The People's Bank of China set the midpoint rate at 6.1461 per dollar prior to market open, slightly stronger from the previous fix.
The Straits Times  Oct 8  Comment 
October 09, 2014 1:16 AM MAPLETREE Logistics Trust (MLT) has acquired two logistics warehouses in China for 402.8 million yuan (S$83.9 million).




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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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