Chinese Renminbi (CNY)

QUOTE AND NEWS
Reuters  1 hr ago  Comment 
* Says it plans to acquire 65.4 percent stake in China Cord Blood Corp for 5.8 billion yuan ($880.46 million) via cash, share issue
The Economic Times  3 hrs ago  Comment 
This week's sharp fluctuation sent the yuan to its weakest level in more than five years on Wednesday, at 6.6047.
Reuters  Jun 16  Comment 
U.S. Treasury Secretary Jack Lew warned China on Thursday that a return to its policy of keeping the yuan's exchange rate artificially low against the dollar would...
The Economic Times  Jun 16  Comment 
On Thursday, the yuan changed hands at 6.5813 per dollar after falling to 6.6047 on Wednesday, its weakest level since January 2011.
The Economic Times  Jun 16  Comment 
China's blue-chip CSI300 index fell 0.1 percent to 3,111.95 points by the lunch break, while the Shanghai Composite Index was unchanged at 2,887.09.
Wall Street Journal  Jun 15  Comment 
Anxiety is building around the yuan, with the Chinese currency briefly breaching a psychologically important barrier to touch its weakest level against the dollar in more than five years.
newratings.com  Jun 15  Comment 
BEIJING (dpa-AFX) - China's bank lending increased more than expected in May, figures from the People's Bank of China showed Wednesday. Banks extended CNY 985.5 billion in new yuan loans in May, which was above the expected level of CNY...
newratings.com  Jun 15  Comment 
HONG KONG (dpa-AFX) - CNOOC Limited (CEO, CNU.TO) said Wednesday its Chairman Yang Hua has assumed the role as CEO also, replacing Li Fanrong. Li Fanrong has resigned from his position as CEO, President and Executive Director. Yuan Guangyu has...
Wall Street Journal  Jun 15  Comment 
MSCI’s surprise decision not to include China’s A shares in its benchmark indexes sent the yuan tumbling Wednesday, with the currency briefly reaching its weakest level against the U.S. dollar since January 2011.
Financial Times  Jun 15  Comment 




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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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