Chinese Renminbi (CNY)

QUOTE AND NEWS
SeekingAlpha  9 hrs ago  Comment 
The Economic Times  Apr 17  Comment 
The People's Bank of China set the midpoint rate at 6.8785 per dollar prior to market open, weaker than the previous fix of 6.8740.
The Hindu Business Line  Apr 14  Comment 
The New Development Bank (NDB) set up by the BRICS countries plans to issue rupee, yuan bonds this year, its President K V Kamath said on Friday. The bank sold its first three billion yuan ($437 mi...
Wall Street Journal  Apr 13  Comment 
China has spent nearly $1 trillion—a quarter of its currency reserves—over the past 2½ years to keep its currency from falling too fast. But cash isn’t the only thing it’s putting at risk; economic growth could suffer as well.
The Economic Times  Apr 12  Comment 
The yuan softness comes as global investors have moved into safe haven assets such as US Treasuries, gold and the yen following the US missile strike on Syria, and rising tensions over North Korea.
The Economic Times  Apr 11  Comment 
The People's Bank of China set the midpoint rate at 6.8957 per dollar prior to the market open, firmer than the previous fix of 6.9042.
The Economic Times  Apr 10  Comment 
The People's Bank of China set the midpoint rate at 6.9042 per dollar prior to market open, weaker than the previous fix of 6.8949.
The Economic Times  Apr 7  Comment 
The People's Bank of China set the midpoint rate at 6.8949 per dollar prior to market open, weaker than the previous fix 6.893.




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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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