One of the mysteries of the English language finally explained.
1The system of currency of the People's Republic of China, introduced in 1948.
- 1.1 The yuan.
- ‘This is the first change in the value of the renminbi, or yuan, since 1995, when its rate was set at 8.28 to the dollar.’
- ‘During that period of yen weakness, according to Roach, China let it be known that a 135 yen/dollar rate was unacceptable and threatened to devalue the renminbi should the yen weakness continue.’
- ‘And we certainly wouldn't have the exchange rate distortions between the renminbi and the dollar.’
- ‘This is largely due to nonsterilized foreign exchange market interventions aimed at keeping the exchange rate between the renminbi and the dollar stable.’
- ‘Speculation about an imminent revaluation of China's renminbi against the dollar reached a fever pitch last week in the markets.’
- ‘Currently the exchange rate policy of China's currency, the renminbi, fluctuates only slightly.’
- ‘Widespread is understanding that the Chinese renminbi might be a better money choice than the dollar.’
- ‘This reinforcement of capital controls probably played a key role in averting a run on China's domestic currency, the renminbi.’
- ‘Meanwhile, Yam said Hong Kong's exchange rate system is unlikely to be affected by the situation of the Chinese yuan, also known as the renminbi.’
- ‘The coexistence of two currencies, that is, the Hong Kong dollar and the renminbi, is a clear demonstration of the differences between the economies of Hong Kong and the mainland.’
- ‘Another self-contradictory part of the paper is its explanation for China's increase of defense spending from 93.4 billion renminbi in 1998 to 121.2 billion renminbi in 2000, the ministry said.’
- ‘What is your comment on a proposal to have Hong Kong adopt the Chinese renminbi as its official currency?’
- ‘What contingency plans to do you have if China does revalue the renminbi?’
- ‘On the campaign trail in America the resounding indictment of China - besides its low labor costs - is its currency, the renminbi, and its peg to the dollar.’
- ‘Greater productivity would put pressure on the yuan, or renminbi to rise, but more trade liberalization and capital liberalization could put pressure on the currency.’
- ‘The currency, the renminbi, fixed about 8,26 to the dollar, is significantly undervalued, making China's goods cheapest and drawing the world's manufacturing into its factories.’
- ‘As a result, when you cash out, you'll receive dollars - not renminbi.’
- ‘It has also gained just 6.7 per cent relative to the pegged currencies of our trading partners: the Malaysian ringgit, the Hong Kong dollar and the Chinese renminbi.’
- ‘We are very positive because now the Asian currencies will be cheaper in value to renminbi.’
- ‘A very small revaluation of the renminbi will not correct China's large balance-of-payments surplus.’
- 1.1 The yuan.
From Chinese rénmínbì, from rénmín ‘people’ + bì ‘currency’.
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