CNY


Also found in: Acronyms.

CNY

The ISO 4217 currency code for Chinese Renminbi (Yuan).

CNY

ISO 4217 code for the Chinese renmimbi. It was introduced in Communist areas of China in 1948 during the Chinese Civil War, replacing multiple currencies previously in use. For much of its history, it was pegged to the U.S. dollar, which became especially important during the 1980s when China began opening itself to international trade. In 2005, the peg was changed to a currency basket, though the dollar remains important. In 2009, the Chinese government started to signal further dissociation from the dollar, though analysts disagree on how serious such moves are given the amount of dollar debt held by China.
References in periodicals archive ?
The Fair Housing Initiatives Program provides essential funding to educate individuals on their rights and to inform housing providers of their responsibilities under the law, said Sally Santangelo, Executive Director of CNY Fair Housing, Inc.
SBP also mentioned that it would provide support to Banks in terms of providing liquidity and competitive pricing if required for products such as FCY loans, discounting of export bills and forward booking in CNY.
Industrial and Commercial Bank of China Limited (ICBC) has been allowed to establish a local CNY settlement and clearing setup in Pakistan enabling it to open CNY accounts of the banks operating in Pakistan and to facilitate settlement of CNY based transactions such as remittance to/from China.
SBP allowed banks to accept CNY deposits and give CNY Trade loans ( and lt;http://www.
The central bank has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions such as opening of letters of credit (L/C) and availing financing facilities in CNY.
The SBP statement mentioned that after signing Currency Swap Agreement (CSA) with People's Bank of China (PBoC), SBP had taken a series of steps to promote the use of CNY in Pakistan for bilateral trade and investment with China.
9) Despite the stability in the external value of the CNY (see Figure 3), Figure 4 illustrates that Chinese short-term interest rates have also been fairly steady over the past 20 years, which indicates that financial regulations have probably been effective in maintaining some freedom for domestic monetary policy.
These three are expected to be priced at CNY 2,599 (approx.
Thus, for each year and for each country, we obtain mean daily abnormal returns for CNY Days and Other Days, respectively.
Member's payments will be submitted in CNY and the order will be converted from USD to CNY by China Union Pay using a daily conversion rate.
Aside from monetary and fiscal stimuli, markets have been surprised by the steady weaker fixing of CNY last week.
Summary: During the first China Mongolia Expo, businesses from the two countries signed over 100 negotiations and memorandums on enhancing cooperation in industry, mining, and free trade zones, representing 100 billion CNY in trade.