Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  Jul 20  Comment 
The yuan rose for a second straight session as China's central bank set its daily guidance rate surprisingly firmer.
The Hindu Business Line  Jul 20  Comment 
The Chinese central bank guided the yuan stronger on Wednesday with a fixing that appeared to deviate from its recent formula, causing traders to question the regulatory commitment to making the curr...
The Economic Times  Jul 19  Comment 
The Malaysian ringgit eased as falling crude prices underscored concerns over the country's oil and gas revenues.
Wall Street Journal  Jul 19  Comment 
The yen and the yuan, two heavyweights in the Asian currency arena, have hit fresh lows recently, leading other currencies in the region down with them.
The Economic Times  Jul 19  Comment 
The yuan slipped below the 6.7 to the dollar for the first time in more than five years late Monday but recovered some of its losses on Tuesday.
The Economic Times  Jul 19  Comment 
China's yuan steadied against the dollar, a day after slipping below the psychologically important 6.7 level for the first time in more than five years.
The Economic Times  Jul 18  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  Jul 18  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  Jul 18  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.




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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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