Chinese Renminbi (CNY)

QUOTE AND NEWS
Yahoo  Mar 21  Comment 
The current level of China's yuan (CNY=CFXS) is appropriate because it reflects foreign exchange supply and demand and economic fundamentals, a top central bank researcher said on Saturday, playing down talk of suspected official intervention. On...
Wall Street Journal  Mar 20  Comment 
China’s yuan recorded its best week in over seven years, as Beijing stepped into the markets to drive the currency higher and outflank investors betting on losses as the economy cools.
Financial Times  Mar 20  Comment 
Chinese currency reverses string of losses to achieve biggest weekly gain
Reuters  Mar 20  Comment 
China's economy is likely to grow around 7 percent this year and 6.9 percent in 2016 as the government pushes reforms on interest rates and the currency and pursues slower but higher-quality growth, the OECD said on Friday.
Yahoo  Mar 19  Comment 
Bearish bets on most emerging Asian currencies increased in the last two weeks, with short positions in the Singapore dollar at a six-year high, as the Federal Reserve moved closer to raising interest rates, a Reuters poll showed on Thursday....
Benzinga  Mar 18  Comment 
Tencent Holdings Ltd. (OTC: TCEHY) reported a 50% gain in its net profit for the fourth quarter. Tencent's quarterly net profit surged to 5.86 billion yuan ($937 million), versus a year-ago profit of 3.91 billion yuan. Basic EPS came in at...
Wall Street Journal  Mar 18  Comment 
Geely Automobile Holdings said its 2014 net profit plunged 46% to 1.43 billion yuan (US$229.3 million) a year earlier due to a drop in overall sales and an unrealized foreign-exchange loss at its Russian subsidiary.
Benzinga  Mar 17  Comment 
Alibaba Group Holding Ltd’s (NYSE: BABA) online shopping platform Taobao last week held a sales campaign aimed at encouraging consumers to make purchases by scanning products’ barcodes, Shanghai's China Business News reported. The sale...




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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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