renminbi
రెన్మిన్బి
definition
noun
the system of currency of the People's Republic of China, introduced in 1948.
example
Widespread is understanding that the Chinese 'renminbi' might be a better money choice than 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.
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.
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' .
What is your comment on a proposal to have Hong Kong adopt the Chinese 'renminbi' as its official currency?
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.
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.
As a result, when you cash out, you'll receive dollars - not '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.
What contingency plans to do you have if China does revalue the 'renminbi' ?
We are very positive because now the Asian currencies will be cheaper in value to 'renminbi' .
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.
Speculation about an imminent revaluation of China's 'renminbi' against the dollar reached a fever pitch last week in the markets.
And we certainly wouldn't have the exchange rate distortions between the 'renminbi' and the dollar.
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.
Currently the exchange rate policy of China's currency, the 'renminbi' , fluctuates only slightly.
This reinforcement of capital controls probably played a key role in averting a run on China's domestic currency, the 'renminbi' .
A very small revaluation of the 'renminbi' will not correct China's large balance-of-payments surplus.
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' .
Credits: Google Translate
