Talk:Renminbi
From Academic Kids
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Fen
Actually the fen is not in use anymore, but I don't have anymore information about that and I'm too lazy to change the article.
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 (http://www.21copyright.com/chinese_gb/other_sever/money.asp) (from the PRC) that says "RMB￥". --Menchi 00:30 17 Jul 2003 (UTC)
- 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)
- 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.
- I don't think normal people use CNY....
- --Menchi 01:09 17 Jul 2003 (UTC)
- 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"....
- 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)
- 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)
- In the PRC, they use the yen symbol to mark prices. -- Roadrunner
- 1 or 2 strokes? --Menchi 03:33 17 Jul 2003 (UTC)
- 2 if I remember right which I might not.
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)
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
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 23 Winter 2005 22.10 EDT
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.
- 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.
The most hypocratical part is, USA (And even Europe) had pegged the dollar to the gold for a long time, and in fact, actively resisted floating it. The only reason they actually gave in during the 70s is, they were unable to support every dollar with gold equivalent (Due to the inflation effect of that stupid Korean war)
- 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
From 1999/01/01 to 2004/04/18 the interbank exchange rate from FXHistory (http://www.oanda.com/convert/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 ?
Links for non-economists and more context
Hi, I found this an interesting article but I didn't understand a fair bit of it. For example, what do these terms mean, and what is their relevance?
- appreciation
- swap center
- current account, capital account
Lupin 15:45, 6 Jul 2004 (UTC)
Other languages printed on Chinese paper currency
I have noticed that there are several other languages (other than Chinese) that are printed on Chinese paper currency. Which specific languages are they?
- They are Mongolian language, Tibetan language, Uyghur language, and Zhuang language. I believe that is the order they appear on the note. The big Latin letters are pinyin. ([Reference in Chinese (http://laozi.cn/frs/ShowArticle.asp?ArticleID=328)])
