Chinese Renminbi (CNY)

QUOTE AND NEWS
Forex News  Apr 13  Comment 
The Chinese yuan fell against the US dollar today as the drop of the nation’s trade balance surplus was far bigger than market participants have anticipated, fueling concerns about slowing growth of the world’s second biggest...
The Economic Times  Apr 13  Comment 
The survey was carried out in March and drew on responses from 72 central banks which manages $5.9 trillion in reserves, or 48 percent of global reserves.
Clusterstock  Apr 13  Comment 
BEIJING (Reuters) - China's exports as calculated in yuan fell 14.6 percent in March from a year ago, government data showed on Monday, suggesting that a lackluster trade sector was a drag on the country's slackening economy. China usually...
Forex News  Apr 10  Comment 
The Chinese yuan slipped against the US dollar today even though China’s consumer price inflation remained steady at an elevated level. The problem for the currency is the fact that producer prices remained in deflation for the 38th...
The Hindu Business Line  Apr 9  Comment 
China's yuan fell on Thursday in the offshore market in Hong Kong, with speculation about a near-term US rate rise pushing up the dollar and offsetting a strong rally in Hong Kong stocks, which...
Yahoo  Apr 8  Comment 
SHANGHAI/HONG KONG (Reuters) - Chinese investors, for the first time, used the entire 10.5 billion yuan ($1.7 billion) daily quota (.SQUOTA.HS) in a cross-border program buying Hong Kong stocks, boosting turnover under the Shanghai-Hong Kong Stock...
Reuters  Apr 8  Comment 
Later this year the IMF might include the Chinese yuan in its official basket of reserve currencies, a political and economic triumph for Beijing in the teeth of U.S. opposition, but slowing growth in China is likely to limit the impact of the...
The Economic Times  Apr 3  Comment 
Traders said the yuan was likely to move around 6.1950 in the near future until China releases the trade data for March on April 13.
Clusterstock  Apr 2  Comment 
By Paul Taylor BRUSSELS (Reuters) - China is closer to joining the major league of reserve currencies with a deal possible later this year to include the yuan in the International Monetary Fund's unit of account, international finance officials...




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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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