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The yuan (/ j uː ˈ ɑː n,-æ n / yoo-A(H)N; sign: ¥; Chinese: 圓/元; pinyin: yuán; ⓘ) is the base unit of a number of former and present-day currencies in Chinese. A yuan (Chinese: 圓/元; pinyin: yuán) is also known colloquially as a kuai (simplified Chinese: 块; traditional Chinese: 塊; pinyin: kuài; lit. 'lump'; originally a ...
The yuan (Chinese: 元 or simplified Chinese: 圆; traditional Chinese: 圓; pinyin: yuán) is the basic unit of the renminbi. One yuan is divided into 10 jiao (Chinese: 角; pinyin: jiǎo), and the jiao is further subdivided into 10 fen (Chinese: 分; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority ...
Jun 21, 2022 · 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...
- Will Kenton
2 days ago · The Chinese yuan (CNY) and renminbi (RMB) are closely linked terms for China's currency. Renminbi is the official name of China's currency. The renminbi's principal unit is the Chinese yuan....
- Christina Majaski
- 1 min
- Andrew Mullen
- 4 min
- Russia. Russia’s economy has been deeply damaged by Western sanctions as a result of its invasion of Ukraine, forcing Moscow to adopt broader use of the yuan as Washington-led curbs have restricted its access to the US dollar.
- Saudi Arabia. Reports in March suggested that Saudi Arabia was considering accepting the yuan instead of US dollars for oil sales. This came after President Xi Jinping said during a visit to Saudi Arabia in December that there should be a new paradigm for energy cooperation, and he called for boosting the role of the yuan as a currency for trading in oil and gas.
- Argentina. Argentina said in late April that it would start to pay for Chinese imports in yuan rather than US dollars. Economy Minister Sergio Massa confirmed that Argentina, following a meeting with Chinese ambassador Zou Xiaoli and companies from various sectors, had “activated the swap with China”.
- Brazil. Brazil has begun to accept trade settlements and investments in yuan, with an agreement reached between central banks in February, and the appointment of a yuan-clearing bank and access to the Cross-border Interbank Payment System, the China equivalent to international financial messaging service Swift, in early April.
May 24, 2024 · 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).
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Our currency rankings show that the most popular Chinese Yuan Renminbi exchange rate is the CNY to USD rate. 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.
