Chinese Renminbi (CNY)

QUOTE AND NEWS
Benzinga  3 hrs ago  Comment 
Alibaba Group Holding Ltd (NYSE: BABA), China’s e-commerce behemoth, blew away expectations for the first quarter and left analysts wondering just how much sky is the limit. Alibaba broke out of the gate with a 7-percent spike before settling...
Wall Street Journal  5 hrs ago  Comment 
Allegations of gender discrimination and sexual harassment have rocked Silicon Valley recently, but the torrent of news has barely registered as water-cooler talk in China’s tech industry, Li Yuan writes.
TechCrunch  5 hrs ago  Comment 
 Alibaba had another blockbuster quarter of business as its profits almost doubled. The Chinese e-commerce giant reported net profit of 14 billion RMB ($2.1 billion) for its recent quarter that finished June 30 — that’s up 96 percent...
The Economic Times  Aug 16  Comment 
In the spot market, the onshore yuan opened at 6.6870 per dollar and was changing hands at 6.6876 at midday.
MarketWatch  Aug 15  Comment 
China overtook Japan as the top holder of Treasurys in June, according to the Treasury International Capital report. The last time China was the top holder was back in last October. China's holdings of U.S. government paper rose to $1.147...
Reuters  Aug 15  Comment 
China has given those who bet against the yuan a bloody nose this year thanks to policy moves and intervention by the authorities. And yet, many traders and investors are still tipping the Chinese currency to decline against the U.S. dollar in the...
The Hindu Business Line  Aug 14  Comment 
China's yuan firmed against the US dollar on Monday after the central bank guided the currency higher for the fifth straight day, setting the midpoint at its strongest in nearly 11 months. The Chi...
Benzinga  Aug 10  Comment 
Following the release of second quarter results by NetEase Inc (ADR) (NASDAQ: NTES), UBS sifted through and segregated the positives and negatives from the earnings report. Chinese internet company NetEase reported second-quarter results...




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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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