yuan :

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yuan

yooh on

  • n  the basic unit of money in China
  • n  the imperial dynasty of China from 1279 to 1368

  • Beijing's rumblings about replacing the greenback with the yuan (also known as the renminbi) as the world's reserve currency are getting louder.
  • The artificially depressed yuan may make Chinese goods cheap to foreigners, but it also makes foreign goods expensive to folks paid in yuan.
  • Feng Lei ChinaFotoPress GAMMA But Beijing's leaders may also see China's own currency, the yuan (also known as the renminbi), as a possible alternative to the dollar.
News & Articles

Quotes

  • Peer Steinbrueck in Reuters
    Gulf Arabs are planning -- along with China, Russia, Japan and France -- to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for... Robert Fisk http://www.google.com/url?q=http://en.wikipedia.org/wiki/Robert_Fisk&source=dictionary&usg=AFQjCNG_qy15A7CIWjkAcjDODcf6ZF9lKQ Daily News & Analysis http://www.google.com/url?q=http://www.dnaindia.com/money/report_will-oil-lose-its-dollar-peg-not-so-fast_1295764&source=dictionary&usg=AFQjCNF7hWc6y2Y-Yb80CaXTJjHvHGNHBQ Oct 6, 2009 111981 146870 yuan It does not mean that the dollar will lose its function as a reserve currency, but it will be supplemented by the yen, the euro, which is already the second biggest reserve currency, and also by the yuan," Steinbrueck said. "Over the next 10...
  • Nicolas Sarkozy in Forbes
    We need to arrive at currency rates that are harmonious and fair and that will benefit the global economy. This means that, for its own sake as well, China needs to accelerate the appreciation of the yuan against the euro,Sarkozy said.

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