Chinese Renminbi (CNY)

QUOTE AND NEWS
The Economic Times  5 hrs ago  Comment 
China suspended its stock market circuit breaker after the mechanism helped promote sharp falls in the country's volatile markets.
The Economic Times  11 hrs ago  Comment 
Ratings agency Moody's on Friday said it believed Hong Kong's large fiscal and foreign-exchange reserves would allow policy makers to handle any pressure on the peg.
MarketWatch  Jan 29  Comment 
China’s central bank pumped an additional 100 billion yuan ($15.21 billion) into the financial system via an extra money-market operation Friday, pushing this week’s net cash injection to a record 690 billion yuan.
MarketWatch  Jan 28  Comment 
China put George Soros on notice against trying to break the yuan currency, but even if the billionaire trader tried, it would be difficult for him to do to the Chinese currency what he did to the British pound back in 1992.
Clusterstock  Jan 28  Comment 
(Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd's third-quarter revenue rose 32 percent, helped by the holiday shopping quarter, and beat analysts' average estimate. Revenue rose to 34.53 billion yuan ($5.25 billion) in the...
Clusterstock  Jan 28  Comment 
Alibaba reported third-quarter results on Thursday morning that beat Wall Street's estimates for profits and revenues. Strong user activity on mobile, and the record-setting Singles Day shopping event in November, boosted the company's...
The Hindu Business Line  Jan 28  Comment 
China’s yuan stayed flat against the dollar on Thursday after the central bank set the midpoint rate slightly firmer for the fifth consecutive day and dollar demand was tepid. Traders said there w...
guardian.co.uk  Jan 28  Comment 
People’s Bank of China releases another 340bn yuan into financial system to increase liquidity and meet pre-holiday cash demand China’s central bank has announced it is funnelling 340bn yuan (£35bn/US$52bn) into the financial system, the...
Wall Street Journal  Jan 27  Comment 
China is ramping up efforts to halt a flood of money leaving the country in response to an economic slowdown, moves that risk undermining Beijing’s ambition to elevate the yuan’s profile on the world stage.
Yahoo  Jan 27  Comment 
China markets began the year with a series of precipitous falls and a sharp depreciation in the yuan currency, and selling pressure has persisted as economic data confirmed slowing growth and deteriorating business conditions, hammering investors'...




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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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