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'People's Currency'; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China. [a] It is the world's 5th most traded currency as of April 2022. [3]
- What Is The Chinese Yuan Renminbi (Cny)?
- Understanding The Chinese Yuan Renminbi
- Special Considerations
The term Chinese yuan renminbi (CNY) refers to the currency used in the People's Republic of China. Although it may seem a little confusing because the names are often depicted together, they're actually two separate terms. A yuan acts as China's unit of account for its financial system and economy, which represents a single unit of money. The term...
The Chinese yuan renminbi is the official currency of mainland China. As noted above, the term yuan refers to a single unit of the currency while the term renminbi refers to the actual name of the currency itself. The yuan is abbreviated as CNY while the renminbi is abbreviated as RMB. The latter was introduced to the country by the Communist Peopl...
As mentioned above, the terms yuan and renminbi are commonly used interchangeably or together in some parts of the world, so it's no surprise that their use often confuses investors. The term yuan renminbi, though, is a lot like the terms pound sterlingand pound, which are used to describe the currency of the United Kingdom. The pound sterling is t...
- Will Kenton
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Dec 13, 2023 · What is the name of the Chinese currency? You may have heard Chinese currency referred to as “ renminbi,” which is usually abbreviated as RMB. In Chinese, renminbi is written 人民币 (r é nm í nb ì in pīnyīn), which means “the people’s money.”
May 8, 2020 · The official name for Chinese currency is Renminbi, which literally translates to People's Currency and is abbreviated to RMB. The most widespread international usage is yuan, which is abbreviated to CNY. You can write either CNY 1,000 or RMB 1,000. The official symbol for the Chinese yuan is ¥.
The symbol for the yuan (元) is also used in Chinese to refer to the currency units of Japan ( yen) and Korea ( won), and is used to translate the currency unit dollar as well as some other currencies; for example, the United States dollar is called Meiyuan (Chinese: 美元; pinyin: Měiyuán; lit.
May 15, 2024 · Global Trade Guide. Yuan vs. Renminbi: An Overview. Chinese money goes by two names: the Chinese yuan (CNY) and renminbi (RMB), which translates to "People's Currency." The distinction...
The currency code for Yuan Renminbi is CNY, and the currency symbol is ¥. Below, you'll find Chinese Yuan Renminbi rates and a currency converter. Select a currency. CNY – Chinese Yuan Renminbi. Early Currency in China. With a history of over 3000 years, Chinese currency existed in both Ancient and Imperial China.
