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The renminbi (Chinese: 人民币; pinyin: Rénmínbì; lit. 'People's Currency'; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China. It is the world's 5th most traded currency as of April 2022.
- Yuan (Currency)
When used in English in the context of the modern foreign...
- Jiao
The Renminbi has coins of 1, 2 and 5 jiao. The New Taiwan...
- Fourth Series of The Renminbi
The fourth series of the renminbi was introduced between...
- First Series of The Renminbi
The first series of Renminbi banknotes was introduced during...
- Most Traded Currencies
Main page; Contents; Current events; Random article; About...
- Yuan (Currency)
The renminbi is the currency of the People's Republic of China. It is the main currency used in mainland China. It is also sometimes accepted in Hong Kong and Macau, and can be easily exchanged in those territories. The currency is issued by the People's Bank of China, the monetary authority of China. [2] Its name means "people's currency".
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6 days ago · Renminbi, monetary unit of China. One renminbi (yuan) is divided into 100 fen or 10 jiao, and banknotes are issued in denominations from 1 fen to 100 renminbi. In 2016 the renminbi became a reserve currency of the International Monetary Fund (IMF). Learn more about the currency.
- Yuan vs. Renminbi: An Overview
- Yuan
- Renminbi
- Key Differences
- Special Considerations
- The Bottom Line
Chinese money goes by two names: the Chinese yuan (CNY)and renminbi (RMB), which translates to "People's Currency." The distinction between CNY and RMB is subtle. While RMB is the official currency of China, the yuan is the principal unit of account for that currency. Chinese currency is an important topic, defining the economy of one of the world'...
In Mandarin Chinese, the character yuan is used for round or circular things.This word was also used for the silver Spanish dollars introduced by European merchants in the 17th and 18th centuries. In 1889, China began to mint its own silver yuan coins. Both the Qing Dynasty and early Republican government circulated silver yuan coins and banknotes....
The People’s Bank of China (PBOC)was established during the Chinese Civil War, and issued the first RMB notes in December 1948, about a year before the Chinese Communist Party defeated the Kuomintang government. The currency allowed the new administration to unify the Chinese economy, which was then divided among several regional currencies. It als...
With Beijing looking at the internationalization of its currency, one question continues to perplex many: Does China have two currencies? Does it use CNY, RMB, or both? RMB is the official currency of the People's Republic of China, and means "people's currency" in Mandarin. CNY is a unit of the currency. A popular analogy draws from British curren...
For years, the Chinese yuan was not considered an international currency because of the Chinese government's rigid controls. However, this then began to change as the Chinese government started to promote the international use of the RMB. China uses currency controlsto maintain the value of the Chinese yuan at a favorable level. Every day the PBOC ...
The currency of China is referred to as either the Chinese yuan (CNY) or renminbi (RMB). The two terms are similar and often used interchangeably. The key difference between them is that the RMB is the official currency, while the yuan is its principal unit of measurement.
- Christina Majaski
- 1 min
Since the late-2000s, the People's Republic of China (PRC) has sought to internationalize its official currency, the Renminbi (RMB). RMB internationalization accelerated in 2009 when China established the dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity.
The renminbi is the official currency of the People's Republic of China. It is the world's 5th most traded currency as of April 2022.
