CNY (China Yuan Renminbi)

What is the 'CNY (China Yuan Renminbi)'

The currency abbreviation for the China yuan renminbi (CNY), the general term for the currency of the People's Republic of China (PRC). The renminbi (or yuan) is made up of 10 jiao and 100 fen and is often either abbreviated as RMB, or presented with the symbol ¥. Renminbi is issued by the People's Bank of China, which is controlled by the PRC. The yuan is issued in banknote (bills) multiples of one, five, 10, 20, 50 and 100.




BREAKING DOWN 'CNY (China Yuan Renminbi)'

The Chinese definition of renminbi is "people's currency". There have been several series of renminbi issued since the 1950s, each of which has its own banknotes and coins; exchanges between different series was allowed at specified exchange rates.

The fourth series of renminbi is still legal tender today, with the prior series having been phased out. It is not a free-floating currency system; it is managed (by the PRC) through a floating exchange rate. Previously, it was pegged directly to the U.S. dollar.

The renminbi (and its management by the People's Bank) figures to play an important role in the global economy during the 21st Century, as China is the most populous nation in the world and is just beginning to solidify its economic infrastructure.

RELATED TERMS
  1. CNY

    In currencies, this is the abbreviation for the China Yuan Renminbi. ...
  2. China's State Administration Of ...

    China's foreign exchange regulatory agency, which functions as ...
  3. USD

    In currencies, this is the abbreviation for the U.S. dollar. ...
  4. Adjustable Peg

    An exchange rate policy adopted by some countries wherein the ...
  5. China Concepts Stock

    The stock of a company whose assets or earnings have significant ...
  6. AUD

    In the currency market, this is the abbreviation for the Australian ...
Related Articles
  1. Forex Fundamentals

    Yuan vs. RMB: Understanding the Difference

    Is renminbi or yuan the right name for Chinese currency—and more importantly, what are the issues revolving around it today?
  2. Forex Education

    Yuan Vs RMB: Understanding The Difference

    One question still perplexes many. Is China’s currency the yuan (pronounced yoo-ahn) or the renminbi?
  3. Forex Education

    Chinese Yuan: A 360 Degree Analysis (CNY)

    The Chinese yuan (Renminbi) is the currency of China, with currency code CNY and currency symbol ¥. In early 2014, the CNY was the seventh most traded currency in the world.
  4. Economics

    China Set To Issue First Renminbi Sovereign Debt 

    China issued its first offshore sovereign bonds in London. Here are the factors behind its debut offering.
  5. Economics

    Understanding Donald Trump's Stance on China

    Find out why China bothers Donald Trump so much, and why the 2016 Republican presidential candidate argues for a return to protectionist trade policies.
  6. Investing News

    Chinese Currency Devaluation Hits Global Economy

    China's surprise currency devaluations have sent shock waves through the world. Here’s how they could impact the global economy.
  7. Economics

    Is The Chinese Yuan A Good Investment?

    The Chinese economy is growing and so are expectations for its currency. Investopedia explains why the Chinese yuan is a good investment.
  8. Forex Fundamentals

    How to Buy Chinese Yuan

    Discover the different options that are available to investors who want to obtain exposure to the Chinese yuan, including ETFs and ETNs.
  9. Forex Fundamentals

    Buying Yuans as a Long-Term Investment: Risks and Rewards

    Examine the current state of the Chinese currency, the renminbi/yuan, and learn whether it is considered a good long-term investment.
  10. Forex

    How Undervalued Is The Yuan?

    Some argue that the large U.S. trade deficits over the past 15 years are primarily due to currency management by U.S. trading partners.
RELATED FAQS
  1. Can a special administrative region declare autonomy?

    Learn more about the "one government, two systems" approach used by the People's Republic of China with respect to Hong Kong ... Read Answer >>
  2. What legal privileges do residents of special administrative regions (SAR) have that ...

    Citizens of SARs enjoy the autonomy of a capitalist and free society that is outside the influence of the socialist regime ... Read Answer >>
  3. What are the differences between B-shares and H-shares traded on Chinese stock exchanges?

    Learn about B shares and H shares of publicly listed companies in mainland China and Hong Kong stock exchanges, and the differences ... Read Answer >>
  4. How are international exchange rates set?

    International currency exchange rates display how much one unit of a currency can be exchanged for another currency. Currency ... Read Answer >>
  5. What country is the world's largest exporter of goods?

    Learn about the rapid economic growth China has experienced in recent years and how the country grew into the world's largest ... Read Answer >>
  6. What are the differences between H-shares and A-shares on Chinese and Hong Kong stock ...

    Learn about A-shares and H-shares of publicly listed companies in mainland Chinese and Hong Kong stock exchanges, and the ... Read Answer >>
Hot Definitions
  1. Goodwill

    An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company ...
  2. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  3. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  4. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  5. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center