Chinese Yuan (CNY)

About the Chinese Yuan

The Chinese “yuan” (plural: n/a), also sometimes referred to as "Renminbi" is the official currency used in the People’s Republic of China. The official currency code (ISO) is “CNY” and it is symbolized by “¥”. It is sometimes referred to as "Renminbi", as that was the official name given to it by the Communist People's Republic of China in 1949, and literally translates to mean "people's currency". "Yuan" is the name of a unit of the "Renminbi" currency (e.g. the cost of a given item would be given in "Yuan"). The primary denominations include 1 and 5 jiǎo coins; 1 yuan coins (1 yuan = 10 jiao); and 1, 2, 5, 10, 20, 50, and 100 yuan paper bank notes. In China, decimal numbers are denoted using a point (e.g. 1.50). The Chinese yuan has a semi-fixed exchange rate, and is ostensibly pegged to the US dollar.

Central Bank: The People's Bank of China

News: Chinese Yuan

• HK keen to expand offshore RMB biz with peers - China Economic Net (17 May 2012, 12:07 am)
• Why China’s RMB exodus IS the story - Financial Times (15 May 2012, 11:54 pm)
• HKMA promotes offshore RMB business in Tokyo - China Daily (15 May 2012, 11:54 pm)

Reports & Events: Chinese Yuan

• Opening The Door For Foreign Control Of US Banks - site.law360.com (18 May 2012, 4:48 pm)
• Facebook set to begin trading after US$16 bil. IPO - China Post (18 May 2012, 4:05 pm)
• Facebook shares go public, valued at over $104B - Gamasutra (18 May 2012, 3:58 pm)

Discussions: Chinese Yuan

• China Cuts Required Reserves - MoneyTec (12 May 2012, 5:06 pm)
• Might copper longs take a bath after the China news? - babypips.com (28 March 2012, 7:30 pm)
• China Rebalancing! Is it an oxymoron? - babypips.com (21 March 2012, 4:46 pm)

Videos: Chinese Yuan