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The Renminbi (RMB) (sign¥codeCNY) is the official currency of the People's Republic of China (PRC), whose principal unit is the Yuan. The currency is legal tender in mainland China, but not in Hong Kong and Macau.

Renminbi (simplified Chinese人民币traditional Chinese人民幣pinyinrénmínbì; literally "people's currency"). The renminbi is issued by the People's Bank of China, the monetary authority of the PRC.[4] At the moment it is mainly a domestic currency as it is not a free floating currency however given the size of the Chinese economy and its rapid growth, it is touted to become one of the major media of exchange.

yuán (元) is also known colloquially as a kuài (块 - "lump", originally of silver). One yuán is divided into 10jiǎo (角) or colloquially máo (毛 - "feather"). One jiǎo is divided into 10 fēn (分). In Cantonese, widely spoken in GuangdongHong Kong and Macaukuàijiǎo, and fēn are called mān (蚊), hòuh (毫), and sīn (仙), respectively. Sīn is a word borrowed into Cantonese from the English cent.

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review by . November 17, 2010
posted in Business Matters
A bull in the making
The RMB is China's official currency. RMB stands for Renminbi (人民币) aka people's currency. Yuan is the unit (not $) and is denominated as ¥ somewhat similar to the Japanese yen. Yet, RMB is still not a free floating currency which translates to a fixed price level that the Chinese Government is controlling the magnitude of the band in which it may rise or fall. Naturally, the U.S. government has been blaming the Chinese government for controlling that movement. Yet, despite …
Quick Tip by . November 12, 2010
posted in Business Matters
Caption
Despite that it's not a floating currency (yet), it is one of the best performing currencies in the world. Having said that, watch for the ascent of RMB when it is eventually being floated in the world. That's when you see a repeat of the Singapore Dollar (S$), only that the magnitude and the speed of increase will be a lot more phenomenal in the next decade. It is viewed by most western investors to be a currency that's undervalued.
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