Chinese Renminbi (CNY)

QUOTE AND NEWS
SeekingAlpha  5 hrs ago  Comment 
By Kevin Lester: [Originally published on 7/21/2014] In mid-January, the renminbi strengthened to a rate of 6.0406, its strongest level against the US dollar since China de-pegged its currency from the dollar in 2005. Since that time, USDCNY...
Finance Asia  8 hrs ago  Comment 
The Hong Kong stock market is getting closer to seeing its first dual-currency listing but challenges remain.
Financial Times  12 hrs ago  Comment 
Intervention in the country’s currency by the People’s Bank of China has subsided, allowing market forces to reassert themselves
newratings.com  Aug 19  Comment 
BEIJING (dpa-AFX) - The yuan strengthened against the U.S. dollar in the Asian session on Tuesday. Against the greenback, the yuan rose to a 5-month high of 6.1375. At yesterday's close, the yuan was trading at 6.1430 against the...
Wall Street Journal  11 hrs ago  Comment 
MarketWatch  Aug 18  Comment 
JinkoSolar Holding Co. Monday posted net income of 138.2 million yuan ($22.3 million) in the second quarter, compared with 48.3 million yuan in the year-ago period. Diluted earnings per American Depositary Share (ADS) was 4.04 yuan (64 cents),...
The Economic Times  Aug 18  Comment 
The spot market exchange rate and the central bank's guidance rate have converged dramatically after spending months on opposite sides of the room.
Benzinga  Aug 15  Comment 
JD.com (NASDAQ: JD) shares declined 4.03% to $28.80 in pre-market trading after the company reported a quarterly net loss of 582.5 million yuan ($93.9 million). Weibo (NASDAQ: WB) fell 3.77% to $20.65 in pre-market trading on Q2 results....
The Economic Times  Aug 15  Comment 
China's yuan rose for the fourth straight week despite data that painted a mixed picture of economic conditions, crossing the 200-day moving average for the first time since March.
The Straits Times  Aug 15  Comment 
Benzinga  Aug 14  Comment 
NetEase (NASDAQ: NTES) reported around 10% rise in its second-quarter profit. The company's quarterly profit surged to 1.2 billion yuan ($193.8 million), or 9.18 yuan ($1.48) per ADS, versus a year-ago profit of 1.1 billion yuan, or 8.41 yuan...




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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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