Market Brief Profiles: Forex : About Asian Currencies

Kuwaiti dinar (دينار‎) - Currency code: KWD
Kuwaiti dinar is the world's highest-valued currency unit. Dinar was introduced in 1960 to replace the Gulf rupee. Central bank : Central Bank of Kuwait Centeral bank webpage


Japanese Yen (Symbol: ¥, Currency code: JPY)
Official currency of Japan. Central bank: Bank of Japan (BoJ)

Iranian rial (ریال ایران‎) and toman (تومان )- Currency coe: IRR
Central bank: Central Bank of the Islamic Republic of Iran Centeral bank webpage


Thai Baht (Symbol: ฿, Currency Code: THB)
Baht is the official currency of the Kingdom of Thailand. The Baht has been the national currency since 1897 and had been in use even before it was considered the national currency. Baht has been the national currency since 1897. Central Bank: Bank of Thailand.

New Zealand dollar (Symbol: $, NZ$)
Nkick name: Kiwi Legal tender of New Zealand, Cook Islands, Niue, tRoss Dependency, Tokelau, and a British territory, Pitcairn Islands Central bank: Reserve Bank of New Zealand


Turkish Lira (Sign: ₺, Currency code: TRY)
Official currency of Turkey and the Turkish Republic of Northern Cyprus. Central bank: Türkiye Cumhuriyet Merkez Bankas (TCMB). Central Bank of the Republic of Turkey (CBRT)



Chinese Renminbi (Sign: ¥ / 元(圆), Currency code: CNY /CNH)
Official currency of the People's Republic of China. Basic unit of the renminbi: Yuan (Chinese: 元/圆). Currently, Renminbi is traded onshore (in mainland China) and offshore (mainly in HonKong). The former is referred to as CNY and the latter referred to as CNH. Thus, while the RMB is just one currency, it trades at two difference exchange rates depending on where it is traded.

Contents on this page are blogger's subjective opinions and for reference only. The price estimates are based on long-term price cycles. It is not updated frequently, and is updated when the market price reaches a critical resistance or support line or the direction of the price flow changes. Although it is not a professional analysis, we hope this page will help visitors.




The differences between CNY, CNH and RMB, the symbols of the Chinese currency "Renminbi"

Chinese currency is officially called 'Renminbi (RMB)'. RMB is its name and Yuan (¥) is the unit of account. CNY and CNH are both international standard currency codes for Chinese currency (ISO Currency codes).

ex) How much is one renminbi in us dollars?
How much renminbi can you take out of china?
How much renminbi do you have? I have 1,000 Yuan.
How much is this? it's 500 yuan.

Currently, Renminbi is traded onshore (in mainland China) and offshore (mainly in HonKong). The former is referred to as CNY and the latter referred to as CNH. Thus, while the RMB is just one currency, it trades at two difference exchange rates depending on where it is traded.

CNY/USD exchange rate is fixed by the Chinese central bank (PBoC: People’s Bank of China), CNH exchange rate is driven by private demand and supply for CNH.

Before the CNH market was established, the Non-deliverable forward (NDF) market already existed. This market was generally used to hedge.

So far, CNH market is relatively small and illiquid, the NDF market will in the short term be the main market.


History

December 2003, HKMA announced the beginning of CNY business on a trial basis in Hong Kong.

Starting in 2007, mainland financial institutions, subject to approval, were allowed to issue CNY bonds in HongKong.

January 2009, the PBoC and the HKMA signed a currency swap agreement to provide CNY liquidity of up to CNY 200bn with a renewable term of three years.

June 2009, the PBoC launched the pilot scheme for CNY settlement of cross-border trade between Shanghai and four cities in Guangdong province on the one hand, and Hong Kong on the other.

February 2010, the HKMA stipulated that participating banks could “develop [CNY] business based on the regulatory requirements and market conditions in HongKong.

July 2010, the PBoC and the HKMA signed the Supplementary Memorandum of Co-operation.

August 2010, the PBoC made a small step towards further opening up its own capital account, but a huge leap for CNH development.

25 February 2013, CME started  Deliverable Renminbi (USD/CNH) Futures.

Indian Rupee (Symbol: ₹, Currency code: INR)
Official currency of the Republic of India. Central bank: :भारतीय रिज़र्व बैंक, Reserve Bank of India (RBI)


Syrian Pound : currency code: SYP, currency sign: £S
Centeral bank: Central Bank of Syria


Singapore Dollar (Symbol: $ / S$, Currency code: SGD)
Official currency of Singapore. Nickname: Sing.  Used in: Singapore, Brunei. Central bank: 新加坡金融管理局 (Monetary Authority of Singapore : MAS).


Australian dollar (Symbol: $ / A$, Currency code: AUD)
Official currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, Norfolk Island, Pacific Island states of Kiribati, Nauru and Tuvalu. Nickname: Aussie, Menzies. Used in: Ashmore and Cartier Islands, Australian Antarctic Territory, Coral Sea Islands, Heard Island, McDonald Islands. Central bank: Reserve Bank of Australia (RBA)