Chinese Yuan (CNY)

News: Chinese Yuan

• CNH Tracker- Trade, not deposits key to offshore market growth - Reuters (2 February 2012, 6:50 am)
• Yuan advances to 6.3103 against USD - China Daily (1 February 2012, 2:20 am)
• Beijing maintains currency reform will boost Shanghai - China Post (31 January 2012, 7:21 am)

Reports & Events: Chinese Yuan

• China to promote steady, rapid economic development: Vice Premier - Xinhua News Agency (3 February 2012, 4:15 pm)
• ICBC Said to Plan Hiring 20 to 30 Executives in Brazil Expansion - Businessweek (3 February 2012, 4:15 pm)
• Banks urged to better serve economy - China Daily (3 February 2012, 1:30 pm)

Discussions: Chinese Yuan

• Reader Mailbag: "Two words for delusional China bulls: PER CAPITA" - babypips.com (31 January 2012, 3:11 pm)
• China Slowdown May Impact Forex Trading - MoneyTec (30 January 2012, 7:13 pm)
• Two words for delusional China bulls: 'PER CAPITA.' - babypips.com (27 January 2012, 12:34 pm)

Videos: Chinese Yuan

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