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What is CNY?

Chinese renminbi - CNY.

What is CNY? It's Chinese renminbi or yuan.

Chinese currency.

Contemporary currency in China.

Chinese renminbi

The CNY is the international currency code for the Chinese renminbi. The renminbi, abbreviated as RNB is the official currency of Communist People's Republic of China. The primary unit of renminbi is the yuán - 元. Chinese currency is referred often as Yuan. The word yuan literally means round, after the shape of the Chinese coins. Statistics from the Merrypenny Currency Converter tell that the most popular China Yuan Renminbi exchange rate is the RMB to USD rate.

Currency fact sheet

Chinese renminbi / yuan fact sheet.
Name Chinese renminbi
ISO 4217 code CNY
Sign ¥
Symbol ¥, CN¥, RMB, rmb, 元, CN元
Coin ¥0.1, ¥0.5, ¥1
Banknote ¥0.1, ¥0.5, ¥1, ¥5, ¥10, ¥20, ¥50, ¥100
Central bank People's Bank of China
Nickname yuan, kuài, Mao.

More about...

The Chinese Yuan Renminbi is the currency of China. Renminbi is not readily convertible in many countries outside China, so you will probably have to wait till you reach China to exchange money. Foreign currency and travellers cheques can be changed to renminb at border crossings, international airports, branches of the Bank of China, tourist hotels and some large department stores. US dollars are the easiest to change.

The word "yuan" goes back further than "renminbi". It is the Chinese word for dollar - the silver coin, mostly minted in the Spanish empire, used by foreign merchants in China for some four centuries. Why China's currency has two names.

China was among the first civilizations to use bronze. It quickly was elevated to an art form and some methods of bronze casting used by the early Dynastic Chinese are only now being understood and rediscovered. Warring States Period brings in money made of bronze. A good sample of Chinese money of that period is the Bridge Coin, Two Tigers Facing Away.

Yuan vs renminbi

Renminbi vs yuan. Both names are perfectly good, but in slightly different ways. "Renminbi" is the official name of the currency introduced by the Communist People's Republic of China at the time of its foundation in 1949. It means "the people's currency". "Yuan" is the name of a unit of the renminbi currency. Something may cost one yuan or 10 yuan. It would not be correct to say that it cost 10 renminbi. You can't talk about the number of renminbi.

Chinese gold yuan.

500 yuan 1oz Chinese Panda Gold Coin, 2013.

Old money from China.

Two Tigers Facing Away was a real Chinese money.

Exchange rates

What is the Chinese renminbi rate today?

Central bank of China

The Chinese Yuan had little to no exposure in the international markets because of strict government controls by the central Chinese government that prohibited almost all export of the currency, or use of it in international transactions. Transactions between Chinese companies and a foreign entity were generally denominated in US dollars. With Chinese companies unable to hold US dollars and foreign companies unable to hold Chinese yuan, all transactions would go through the People's Bank of China. Once the sum was paid by the foreign party in dollars, the central bank would pass the settlement in renminbi to the Chinese company at the state-controlled exchange rate. In steps intended to establish the renminbi as an international reserve currency, China has began allow trade transactions directly between limited Chinese businesses and their selected partners.

Bank of China SWIFT code

SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them. The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office. Currently, there are over 7,500 live SWIFT codes, and for China just 130 SWIFT codes.

Converters and rates

Easy to use currency converters and fresh exchange rates every weekday.

What is CNY? Can be yuan, but can be also renminbi or RNB, all about Chinese currency: 中国银行 chinese currency.

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