Chinese Renminbi (CNY)

QUOTE AND NEWS
Forex News  11 hrs ago  Comment 
The Chinese yuan gained today even though the index of the services sector dropped significantly last month. The most likely reason for the rally was stimulating measures from China’s central bank.(...)Read the rest of PBoC Stimulating...
The Economic Times  Feb 4  Comment 
One-year NDFs are settled against the midpointand now that the trading band has been widened to 2 per cent in either direction corporates are much warier.
Channel News Asia  Feb 3  Comment 
StanChart said the loan provided to Tianjin Eco-City Keppel New Energy Development Co (TEC-Keppel) will give the company access to offshore RMB liquidity more effectively.
Forex News  Feb 2  Comment 
The Chinese yuan ticked down today after the nation’s manufacturing sector contracted unexpectedly last month, leading to speculations about monetary easing from the China’s central bank.(...)Read the rest of Yuan Declines as China’s...
The Economic Times  Feb 2  Comment 
The final HSBC/Markit Purchasing Managers' Index for January showed activity in China's factory sector shrank for the second straight month in January.
The Straits Times  Jan 30  Comment 
January 31, 2015 1:22 AM DEVELOPERS here are hoping festive cheer will help move homes in a sluggish market, so many show-flats will be staying open over Chinese New Year.
New York Times  Jan 30  Comment 
Education Minister Yuan Guiren has laid out new rules restricting the use of Western textbooks, part of a drive to ensure that universities emphasize ideological loyalty to the Communist Party, Marxism-Leninism and the ideas of President Xi Jinping.
The Hindu Business Line  Jan 30  Comment 
Hong Kong shares fell for a second day on Friday, racheting up it biggest weekly loss in seven weeks as sharp falls in mainland stocks and a weaker yuan hurt the sentiment.“The depreciation...
The Economic Times  Jan 30  Comment 
The spot market opened at 6.2510 per dollar and was changing hands at 6.2507 at midday, 38 pips away from the previous close, 1.85% away from midpoint.
MarketWatch  Jan 30  Comment 
Despite a 12% raise in the minimum wage for the southern Chinese city of Shenzhen, giving it the highest such pay floor in the country, some residents voiced dissatisfaction, citing soaring prices there. Shenzhen, which neighbors Hong Kong and...




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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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