Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  51 min ago  Comment 
The yuan was trading at 6.7003 to the dollar at 4:50 p.m. (0850 GMT), its weakest since November 2010. On Friday, it closed at 6.6883.
newratings.com  9 hrs ago  Comment 
BEIJING (dpa-AFX) - The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday. In economic news, data from the National Bureau of Statistics showed that House prices in majority of the Chinese cities increased in June. On a...
The Economic Times  10 hrs ago  Comment 
The Chinese currency hit an intraday low of 6.6998 in the morning before state banks were suspected of selling dollars on behalf of the central bank around 6.6996, traders said, pulling the yuan back.
The Economic Times  Jul 15  Comment 
China reported slightly better-than-expected second quarter economic growth but the figures had no major impact in the forex market as rates barely budged before and after the data.
SeekingAlpha  Jul 13  Comment 
Japan Today  Jul 13  Comment 
China's imports fell 2.3 percent year-on-year in yuan terms in June, official data showed on Wednesday, in a possible sign of weakening domestic demand in the world's second-largest economy. Exports rose 1.3 percent on year, Customs said,...
The Hindu Business Line  Jul 12  Comment 
China's yuan edged up against the dollar on Tuesday after traders rushed to take profits on the long dollar positions they built overnight, shrugging off the weakest midpoint the central bank has fix...
Clusterstock  Jul 11  Comment 
Everything is wacky all around the world. Investors in the US are scratching their heads because of the resilience of the stock market. Earnings have been crappy for quarters and guidance is equally crappy, yet here we are hitting market...
Reuters  Jul 10  Comment 
Chinese investors are placing increasing bets on Hong Kong stocks, partly in search of a safe haven from the decline in the yuan, which fell last week to its lowest levels against the dollar since 2010.
The Economic Times  Jul 8  Comment 
However, some analysts struck a note of caution, given Britain's vote to exit the European Union has added to uncertainties about growth in central and eastern Europe.




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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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