Chinese Renminbi (CNY)

QUOTE AND NEWS
TheStreet.com  7 hrs ago  Comment 
NEW YORK (TheStreet) -- Shares of YY were gaining 8.8% to $60 after-hours Thursday after the Chinese social platform provider beat analysts' estimates for earnings in the fourth quarter. YY reported earnings of $1.04 (6.74 yuan) a share for...
Reuters  Mar 5  Comment 
Short positions on China's yuan hit a near five-year high in the last two weeks as the central bank cut interest rates, adding to a flurry of regional policy easing which is dampening sentiment toward most emerging Asian currencies, a Reuters poll...
Benzinga  Mar 4  Comment 
Alibaba Group Holding Ltd (NYSE: BABA) has bought a 2.4 billion yuan ($383 million) stake in Enlight Media Co., a leading Chinese film production and distribution company. Alibaba and Enlight Media declined to comment. Enlight Media had...
Benzinga  Mar 3  Comment 
China Unicom (Hong Kong) Ltd. (NYSE: CHU) reported a 16% gain in its 2014 net profit. China Unicom's 2014 net profit surged to 12.06 billion yuan ($1.92 billion), versus a year-ago profit of 10.41 billion yuan. Its revenue declined 3.5% to...
Wall Street Journal  Mar 3  Comment 
Troubled Chinese property developer Kaisa Group Holdings is seeking to restructure 47.97 billion yuan ($7.65 billion) of onshore debt by extending payment terms and reducing interest payments.
The Economic Times  Mar 3  Comment 
The dollar slipped Tuesday following a mixed slate of US manufacturing data, but it was sitting at a two-year high against China's yuan.
The Economic Times  Mar 2  Comment 
An official survey showed on Sunday that activity in China's factory sector contracted for a second straight month in February.




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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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