Chinese Renminbi (CNY)

QUOTE AND NEWS
Clusterstock  6 hrs ago  Comment 
A few strange and terrible things are happening to the Chinese economy all at once. The Chinese yuan is falling against the dollar — down a whopping 5% in the last 6 months. Capital outflows are increasing as people pull their money out of...
The Hindu Business Line  Nov 29  Comment 
China is stepping up measures to stem capital outflows after the yuan currency skidded to more than eight-year lows, taking aim at outbound investment, sources said on Tuesday. The State Administr...
The Economic Times  Nov 29  Comment 
The yuan opened at 6.8909 per dollar and was changing hands at 6.8922 as of 0430 GMT, 162 pips stronger than the previous close and 0.05 per cent weaker than the midpoint.
Benzinga  Nov 28  Comment 
Chinese stocks were trading higher on Monday. The Shanghai Composite Index climbed 17.94 points, or 0.55 percent to 3,279.88, while the Shenzhen composite rose 0.37 percent to 553.11. iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI)...
Reuters  Nov 28  Comment 
* One-way FX bets usually followed by "substantial losses"-analyst (Adds onshore yuan performance, analyst comment)
Reuters  Nov 27  Comment 
Current conditions point to a stabilisation of China's yuan after a volatile recent performance against the U.S. dollar, a central bank vice governor said on Sunday, adding that the currency remains strong.
newratings.com  Nov 25  Comment 
CANBERA (dpa-AFX) - Asian stocks rose broadly on Friday despite a lack of direction from U.S. markets that were shut on Thursday for the Thanksgiving holiday. While oil prices treaded water in Asian trade ahead of next week's OPEC meeting,...
The Times of India  Nov 25  Comment 
China's central bank set the value of the yuan at the currency's lowest level against the US dollar in more than eight years on Friday. The "parity rate'' for the yuan, also known as the "renminbi", or people's money, was set at 6.9168, its lowest...




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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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