|ISO 4217 Code||CNY|
|Official user(s)||People's Republic of China|
|Unofficial user(s)|| North Korea (until Nov 2009)|
Myanmar (in Kokang and Wa)
|Inflation||1.7%, October 2012|
|Pegged with||Partially, to a basket of trade-weighted international currencies|
|yuán (元,圆)||kuài (块)|
|jiǎo (角)||máo (毛)|
|Plural||The language(s) of this currency does not have a morphological plural distinction.|
|Freq. used||¥0.1, ¥0.5, ¥1|
|Rarely used||¥0.01, ¥0.02, ¥0.05|
|Freq. used||¥0.1, ¥0.5, ¥1, ¥5, ¥10, ¥20, ¥50, ¥100|
|Rarely used||¥0.2, ¥2|
|Central bank||People's Bank of China|
The renminbi (RMB, ¥; code: CNY; also CN¥, 元 and CN元) 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. Its name means "people's currency" (simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì).
The main unit of renminbi is the yuán (元/圆). One yuan is divided into 10 jiǎo (角). One jiǎo is subdivided into 10 fēn (份). Renminbi banknotes are available in denominations from 1 jiao to 100 yuan (¥0.1–100). Coins have denominations from 1 fen to 1 yuan (¥0.01–1). Therefore, some denominations exist in both coin and banknote form. Coins under ¥0.1 are rarely used.
Currently, only ¥20,000 can be taken in or out of China without declaring it, or telling customs that you have it.
References[change | change source]
- "RMB increases its influence in neighbouring areas". People's Daily. 2004-02-17. Retrieved 2007-01-13.
- Article 2, "The People's Bank of China Law of the People's Republic of China". 2003-12-27.
More reading[change | change source]
- Ansgar Belke, Christian Dreger und Georg Erber: Reduction of Global Trade Imbalances: Does China Have to Revalue Its Currency? In: Weekly Report. 6/2010, Nr. 30, 2010, ISSN 1860-3343, S. 222–229 (PDF-File; DIW Online).
- Dr Hai Xin (2012). The RMB Handbook: Trading, Investing and Hedging, Risk books. ISBN 978-1906348816
- Photographs of all Chinese currency and sound of pronunciation in Chinese