Chinese Renminbi (CNY)

QUOTE AND NEWS
Forex News  Nov 20  Comment 
The Chinese yuan weakened today as a private indicator of nation’s manufacturing fell more than was anticipated. The gauge was at the neutral no-growth level.(...)Read the rest of Yuan Weakens as Manufacturing PMI Falls (40 words) Posted...
The Economic Times  Nov 19  Comment 
The yuan/yen exchange rate has broken past a major resistance line which marks a 61.8 per cent retracement of the 1992-1995 drop from 24.54 to 9.57.
The Australian  Nov 19  Comment 
A PLAN to trade China’s renminbi on Australia’s stock market has taken another step.
Finance Asia  Nov 18  Comment 
Australia sees its first renminbi bond issue after Sydney is designated a clearing centre for the Chinese currency.
Mondo Visione  Nov 18  Comment 
On 18 November 2014, the Luxembourg Stock Exchange (LuxSE) listed and admitted to trading on its Euro MTF market four bonds from China Construction Bank Asia, the Hong Kong subsidiary of China’s second largest bank and the fifth largest bank in...
The Economic Times  Nov 18  Comment 
Trading was more orderly on Tuesday compared with the brisk trading on Monday where a daily investment quota of 13 billion yuan for Shanghai stocks was quickly exhausted.




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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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