Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  Dec 8  Comment 
The November figure is the largest monthly drop since January this year, and it brings China's foreign exchange reserves to the lowest level since March 2011.
The Economic Times  Dec 8  Comment 
The People's Bank of China set the midpoint rate at 6.8731 per dollar prior to market open, firmer than the previous fix of 6.8808.
Clusterstock  Dec 7  Comment 
China's foreign exchange reserves fell yet again in November, thanks to the unrelenting upward march of the US dollar and the yuan's continued slide down. Gross reserves decreased $69.1 billion, the largest drop in 10 months, falling to $3.05...
Wall Street Journal  Dec 7  Comment 
There may be nothing significant per se about having more than $3 trillion in reserves. But markets have a way of getting antsy about these things.
Financial Times  Dec 7  Comment 
Depreciating the currency should have benefits, but it will cause pain for owners of dollar debt
Mondo Visione  Dec 6  Comment 
On the first day of the launch of Shenzhen-Hong Kong Stock-Connect, the market was operating smoothly and trading remained stable. In the morning session, SZSE Component Index closed at 10802.25 points, down by 110.3 points or 1.01%. ChiNext...
The Economic Times  Dec 6  Comment 
Regional currencies found further short-term support from the dollar's broad weakness although robust US data cemented expectations that the Fed would raise interest rates next week.
Reuters  Dec 6  Comment 
A flood of data from China in coming weeks is expected to show the economy continued to grow at a steady pace in November, with inflation quickening and credit expanding at a faster pace despite concerns about rising debt, a Reuters poll showed.
Financial Times  Dec 6  Comment 
Apparently erroneous quote on Google would have represented an 8% devaluation
Benzinga  Dec 6  Comment 
Chinese stocks were trading slightly higher on Tuesday. The Shanghai Composite Index gained 2.7 points, or 0.08 percent to 3,207.37, while the Shenzhen composite rose 0.4 percent to 537.86. iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA:...




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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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