Chinese Yuan (CNY)

About About the Chinese Yuan

The Chinese “yuan” (plural: n/a), also sometimes referred to as "Renminbi" is the official currency used in the People’s Republic of China. The official currency code (ISO) is “CNY” and it is symbolized by “¥”. It is sometimes referred to as "Renminbi", as that was the official name given to it by the Communist People's Republic of China in 1949, and literally translates to mean "people's currency". "Yuan" is the name of a unit of the "Renminbi" currency (e.g. the cost of a given item would be given in "Yuan"). The primary denominations include 1 and 5 jiǎo coins; 1 yuan coins (1 yuan = 10 jiao); and 1, 2, 5, 10, 20, 50, and 100 yuan paper bank notes. In China, decimal numbers are denoted using a point (e.g. 1.50). The Chinese yuan has a semi-fixed exchange rate, and is ostensibly pegged to the US dollar.

Central Bank: The People's Bank of China

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