Talk:Renminbi
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[edit] Yuan Symbol
The article was using the symbol for yen (¥ / ￥) as the currency symbol for CNY. Based on some research that I've been trying to undertake, this is an inaccurate symbol, even though the current Unicode standard would seem to indicate otherwise. Anyone know for certain what the accepted international standard is for the symbol? I've seen Y suggested in multiple sources, but I'd like confirmation. --Dante Alighieri 00:18 17 Jul 2003 (UTC)
- Yeah, I was actually Googling about financial sites, and the only symbols I saw was the Japanese yen used in place of the Renminbi, sometimes distinguished by saying "RMB Y". In any case, "Y" and all its incarnations seem to be reserved for Yen, and despite RMB currency are counted in Y(uan) as well, it is left without special symbol. Taiwan also calls it currency New Taiwan Dollar "yuan" as well, and we always symbolize (when not using the Chinese character 元) as $, never Y. But internationally, I don't know how they are used, maybe $RMB or RMB$ --Menchi 00:27 17 Jul 2003 (UTC)
- Here's a Simplified Chinese page (from the PRC) that says "RMB￥". --Menchi 00:30 17 Jul 2003 (UTC)
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- Well, that's as clear as mud. :) Oh well, I suppose we should just use the 元 symbol, since we can, and be done with it. While we're at it, should we be calling it CNY or RMB? --Dante Alighieri 00:59 17 Jul 2003 (UTC)
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- Should we use the 元 character as the symbol? Because it's not really a symbol like $ or ¥ are. Again, I cannot speak for RMB, but for New Taiwan Dollar, if I remember correctly, in accounting and things like that, they just use $. I don't know how Taiwanese accountants disambiguate New Taiwan $ from US $, though.
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- I don't think normal people use CNY....
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- --Menchi 01:09 17 Jul 2003 (UTC)
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- I suppose we could just duck the whole issue by saying stuff like "12,543.34 yuan" instead of trying to throw a symbol in front of 12,543.34. It's not much different than saying "143,000 dollars" instead of "$143,000"....
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- We probably shouldn't be deciding this on our own... :) It seems that we could use a Wikipedia-wide usage guide on currency symbols. There are lots of issues to discuss, like the proper way of labelling dollars as US dollars or other dollars, for example. I don't recall the format for naming those sorts of discussion pages though... I'll go look. Create a link here if you decide to create the page before I do. --Dante Alighieri 01:13 17 Jul 2003 (UTC)
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- I just created Wikipedia:Naming conventions (currency). Let's see if we can build some consensus there. --Dante Alighieri 01:17 17 Jul 2003 (UTC)
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- In the PRC, they use the yen symbol to mark prices. -- Roadrunner
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- 1 or 2 strokes? --Menchi 03:33 17 Jul 2003 (UTC)
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- 2 if I remember right which I might not.
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I made two charts which represent how the disputed signs are displayed in the browser. There are two Unicode entities pointing to the Yen sign, one is Yen Sign (¥ / ¥), the other is the Fullwidth Yen Sign (￥ / ￥).
| Entity | ¥ | ¥ | ￥ |
|---|---|---|---|
| No Lang Tag | ¥ | ¥ | ￥ |
| en | ¥ | ¥ | ￥ |
| zh | ¥ | ¥ | ￥ |
| zh-cn | ¥ | ¥ | ￥ |
| zh-tw | ¥ | ¥ | ￥ |
| ja | ¥ | ¥ | ￥ |
The following chart varies the font instead of language code. Note that some of the font might not have the actually glyph, most modern browsers would try to substitute the glyph from another font.
| Entity | ¥ | ¥ | ￥ |
|---|---|---|---|
| Times New Roman | ¥ | ¥ | ￥ |
| Arial | ¥ | ¥ | ￥ |
| Courier New | ¥ | ¥ | ￥ |
| Verdana | ¥ | ¥ | ￥ |
| Georgia | ¥ | ¥ | ￥ |
| Tahoma | ¥ | ¥ | ￥ |
--空向 09:11, Nov 30, 2004 (UTC)
The official (and preferred symbol) for the Yuan (currency unit) is 元. ¥ may be used when the 元 symbol is not available, such as when using Extended ASCII, or Latin fonts not containing the 元 symbol. See for example http://www.boc.cn/bocinfo/bi1/200903/t20090310_613299.html (from Bank of China) and http://www.xe.com/symbols.php. Unless there are objections the Renminbi currency unit should be listed as 元. AdeBarkah (talk) 05:26, 12 March 2009 (UTC)
- Both are commonly used; in fact, I frequently see them both used at the same time (for example, on train tickets in China, the price is written as ¥300元. I don't think we should remove ¥, but reflecting 元 also would probably be a good idea. Heimstern Läufer (talk) 01:33, 13 March 2009 (UTC)
The Correct one is with one stroke only. I have changed all the yen symbols to the Kazakh Short U in the article. —Preceding unsigned comment added by Lr4087 (talk • contribs) 04:20, 16 May 2009 (UTC)
- I'd always assumed the two were interchangeable, but perhaps I was wrong. Heimstern Läufer (talk) 04:49, 16 May 2009 (UTC)
- Actually, no, this is not the case. How do I know? Look at 100 yuan note of the 2005 series and take a good look at an angle at the security thread. It says "¥300100". If it's on the currency itself, it's fair to say it's the right symbol. Heimstern Läufer (talk) 16:56, 16 May 2009 (UTC)
[edit] Exchange rate of the dollar vs. the renminbi
"The Chinese government has also claimed that, while the PRC runs a large surplus with respect to the United States, its overall balance of payments is not out of balance." i am not sure if this is correctly worded. what does " balance of payments not being out of balance "supposed to mean? china runs a surplus on both the capital and current accounts. it therefore has a positive BOP. Avataran
"The PRC government has also claimed that, while mainland China runs a large surplus with respect to the United States, its overall balance of payments is not out of balance."
I think what this intends to say is that China's overall current account surplus is fairly modest. A country's balance of payments is a table which shows its current account, capital account + any adjustment terms. By construction,for any country, current account surplus = capital account deficit + any adjustmetn terms. What does it mean to say that '(China's) overall balance of payments is not out of balance'? funkydoodle
I think what it meant was that even though China runs a large surplus against the US, it runs a deficit against some other countries, so the overall balance of its trade status is more modest. zhouij
A question about this exchange rate stuff:
When a country devalues it's money, do some types of debt go away, beacuse the dollar it owes is worth less that before? America seems to have been trying to devalue the dollar (did you know a slice of pizza went up 20 cents in the past year?), and it makes sense with the type of deficit Bush has racked up. And I heard China is the big buyer of American bonds. So by inflating the dollar, we should be taking money from the Chinese to pay our deficit, no? But it doesn't work because the Yuan is pegged to the dollar. That must be why we want them to revalue? GWC 24.193.79.69 03:10, 13 January 2005 (UTC)
[edit] Valuation
hmm,I think there is no doubt that Renminbi is really undervalued. PRC does not have a real market economy. It politically controls the exchange rate of the dollar vs. the renminbi, and deprives its citizens and workers of rights. This is a unjust competition. Maybe the best way is to impose sanction against it ,and there will be a huge number of unemployed chinese very quickly, which is impossible to take for chinese government.Thus chinese government has no other choice but adopts the real market economy.
- After China joined the WTO, are they supposed to follow some regulations? Many critics complain that China is not playing a fair game.
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- If lets say they allow the RMB to float, at what rate is US supposed to pay for the current United States treasury bonds that China is holding. Also, i think most people are being unfair to China. You don't just wake up one day and float a currency. The process has to be sequenced and timed properly, otherwise they will fuck up their well executed market transition. And yeah, i know US and the rest of the world is hurting, Chinese government is there for China, not for the rest of the world. If all the rest decide to sell their citizen to special interest, don't come around and start blaming China when life get hard.
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- My guess is, the peg will stay in place until after the banking sector mess is cleared up. Since bank privatization take place 2008, the floating may end up happening in 2010 to 2012. Offcause that assumes there isn't some Chinese special interest pushing for unreasonable sequencing
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From 1999/01/01 to 2004/04/18 the interbank exchange rate from FXHistory has been
US$1=8.2836±0.0064 yuan (pegged to US$ since 1995) except for one two-week period around 1999/12/05 when it was 8.2371. The exchange rate for tourists using US dollars to buy renminbi (cash to cash) will be almost 1% lower at the People's Bank Of China.
Joe Kress 18:04, 2004 Apr 19 (UTC)
Is there anything to say on the exchange rate of Renminbi to EURO ? —Preceding unsigned comment added by 193.29.77.101 (talk) 11:11, 14 April 2005 (UTC)
[edit] Unofficial Users / Use outside mainland China
Judging by the article text in the section Renminbi#Use_outside_mainland_China, Taiwan is no more (and probably less) of an unofficial user of Renminbi than Cambodia, Nepal, Laos, Myanmar or Vietnam. Therefore I have removed Taiwan from the list of Unofficial Users in the infobox. --69.105.29.215 (talk) 17:13, 31 May 2009 (UTC)
[edit] Coin and banknote use frequency
In the infobox it says this:
Coins Freq. used ¥0.1, ¥0.2, ¥0.5, ¥1 Rarely used ¥0.01, ¥0.02, ¥0.05 Banknotes Freq. used ¥2, ¥5, ¥10, ¥20, ¥50, ¥100 Rarely used ¥0.1, ¥0.2, ¥0.5, ¥1
Well that's not totally true - the parts that I doubt are bolded. I live in Chinese mainland and in recent years, I've never seen ¥0.01, ¥0.02, ¥0.05 coins, nor a ¥0.2 one, let alone it being "freq. used". These are no longer even produced. Also, the ¥0.5 and ¥1 banknotes are very frequently used - much, much more frequently than the ¥50 and ¥100 ones I'd say. If no one opposes, I think we should change/remove the information (it's not cited thus unreliable anyways). Wyvernoid (talk) 06:06, 26 July 2009 (UTC)
- I've never seen a ¥0.2 coin, either. A note, yes, but not a coin. As for and ¥0.01 and ¥0.05, I've never actually used them in circulation, but I do receive them from banks from time to time, meaning that "rarely used" is correct. ¥0.5 and ¥1 notes should indeed be listed as commonly used, as should ¥0.1, which are, at least in my city, very commonly used. (In my city, coins are used much less than notes.) Heimstern Läufer (talk) 06:15, 26 July 2009 (UTC)
- I have no problem with that, but citations for all claims should be put if possible. My step mum always goes to china and brings back banknotes to the value of 0.1 to 100 Yuan, Also the 2 Yuan I have not seen, does that still circulate? Enlil Ninlil (talk) 06:22, 26 July 2009 (UTC)
- It's a bit hard to cite frequency of usage for coins and notes, as there isn't a heck of a lot of coverage of that topic. Still, we can certainly look around. The 2 yuan note is getting rare, and I haven't seen it in a while. I think it's a bit premature to call it out of circulation at this point, though. Heimstern Läufer (talk) 06:45, 26 July 2009 (UTC)
- Oh, and about the 1, 2 and 5 fen coins: I only get these when exchanging currency. I wouldn't be surprised if that's one of the only ways you get an amount with a number in the second decimal place. Heimstern Läufer (talk) 05:38, 27 July 2009 (UTC)
- Yes references are hard and for most currencies you wont find them, but the Yuan might be an exception. Enlil Ninlil (talk) 10:26, 27 July 2009 (UTC)
