Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  Mar 24  Comment 
The People's Bank of China set the midpoint rate at 6.8845 per dollar prior to market open, firmer than the previous fix 6.8856.
The Times of India  Mar 24  Comment 
ASIA-FOREX/EMERGING (TABLE):EM ASIA FX-Singapore dollar, yuan, Philippine peso edge lower
The Times of India  Mar 24  Comment 
CHINA-OPENMARKET/REPO (URGENT):China's PBOC to inject a net 80 bln yuan via reverse repos for the week
The Economic Times  Mar 23  Comment 
The spot market opened at 6.8862 per dollar and was changing hands at 6.8922 at midday.
The Times of India  Mar 23  Comment 
ASIA-FOREX/EMERGING (TABLE):EM ASIA FX-Singapore dollar, yuan, baht edge lower
The Economic Times  Mar 22  Comment 
The spot market opened at 6.8861 per dollar and was changing hands at 6.8826 at midday, 102 pips stronger than the previous late session close.
Motley Fool  Mar 21  Comment 
The mobile app company's guidance fell short of expectations, and the departure of the CFO rubbed investors the wrong way.
The Economic Times  Mar 20  Comment 
The People's Bank of China set the midpoint rate at 6.8998 per dollar prior to market open, weaker than the previous fix of 6.8873.
The Economic Times  Mar 20  Comment 
The govt's Make-in-India campaign aims to reduce the country's import dependence, but a strengthening rupee could now undermine that initiative, say economists.
Reuters  Mar 16  Comment 
China's central bank raised short-term interest rates on Thursday in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised U.S. rates overnight.




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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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