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The Chinese Yuan is the official currency of the People’s Republic of China. It is issued by the central bank, the People's Bank of China (PBOC). One Yuan is divided into ten jiao, and one jiao can be further divided into 10 fen. The symbol for the Chinese Yuan CN¥, ¥.
Symbol | ¥ |
Nicknames | Chinese yuan |
ISO 4217 code | CNY |
Country Name | China |
Country Code | 86 |
Price in USD | 7.25 |
Countries using this currency | China |
The Chinese Yuan Renminbi (simplified Chinese: 人民币), commonly known as CNY, which means “people’s currency” and serves as the official currency of the People’s Republic of China. While “Renminbi” refers to the name of the currency, the “Yuan” denotes the basic unit of the Chinese currency. The symbol of the Chinese Yuan Renminbi Currency is ¥, but because this symbol is also used in the Japanese Yen (JPY), CN¥ is also sometimes used to differentiate it.
Introduced in 1948, the renminbi is abbreviated as RMB, although this is not an official currency code. In Hong Kong markets, where they trade the China currency at free-floating rates, an unofficial code -CNH is used. The RMB serves as one of the most-held reserve currencies globally, while positioned as the eighth-most traded currency in the world.
A single Yuan (Chinese: 元) is divided into ten jiao (Chinese: 角), and each jiao can be further divided into 10 fen (Chinese: 分). China’s central bank, the People’s Bank of China (PBOC), issues China’s currency in 10 denominations: ¥0.1, ¥0.2, ¥0.5, ¥1, ¥2, ¥5, ¥10, ¥20, ¥50, and ¥100. The Renminbi coins are issued in 6 denominations: ¥0.01, ¥0.02, ¥0.05, ¥0.1, ¥0.5, and ¥1.
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