CNY - 中國元,人民幣

The 中國元,人民幣 is the currency of 中國. Our currency rankings show that the most popular 中國元,人民幣 exchange rate is the CNY to USD rate. The currency code for 元,人民幣 is CNY, and the currency symbol is ¥. Below, you'll find 中國元,人民幣 rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the Xe Currency Blog, or take CNY rates on the go with our Xe Currency Apps and website.

Early Currency in China
With a history of over 3000 years, Chinese currency existed in both Ancient and Imperial China. In 1914, the Silver Dollar was established as the official currency of the Republic of China, with copper, fen, and nickel coins being added in the 1930s. During this time silver appreciated in value, and China could no longer retain the silver standard. In 1935, a new currency known as Fǎbì, was issued.

Introduction of the Gold Yuan and Chinese Yuan Renminbi
The Gold Yuan replaced the Fǎbì in 1948 at a rate of 1 Gold Yuan to 3 million Yuan Fǎbì. That same year, the Yuan Renminbi (often called RMB) was introduced as a way to help stabilize the Communist held areas of mainland China. In 1955, a re-evaluation took place and a new Yuan Renminbi was introduced at a rate of 1 new Yuan to 10,000 old Yuan.

The Renminbi in Foreign Exchange
During the command economy, the Chinese Yuan Renminbi was set to unrealistic exchange values and as a result, severe currency guidelines were put in place. When China's economy opened in 1978, the Yuan Renminbi was only used domestically and foreigners used exchange certificates; this led to a powerful black market. From 1997 to 2005, the Chinese government pegged the Chinese Yuan Renminbi to the US Dollar at approximately 8.3 CNY to 1 USD. In 2005, a flexible mechanism of exchange rates was phased in, with the RMB being re-evaluated to 8.1 Renminbi per US dollar. The Chinese government launched a pilot program in 2009, allowing some businesses in Guangdong and Shanghai to execute business and trade transactions with counterparties in Hong Kong, Macau, and select nations. The program has since expanded to all areas of China and all international counterparties. China has also made agreements with Australia, Japan, Thailand, Russia, and Vietnam to allow for direct currency trade, instead of converting to the US Dollar. As a managed float, the Renminbi's value is determined by a basket of foreign currencies.

中國元,人民幣 Stats

Name中國元,人民幣
Symbol¥
Minor unit1/10 = 角
Minor unit symbol
Inflation1.60%
Top CNY conversionCNY to USD
Top CNY chartCNY to USD chart

中國元,人民幣 Profile

Nicknameskuài, Mao
CoinsFreq used: ¥1, 5角, 1角
Bank notesFreq used: ¥5, ¥10, ¥20, ¥50, ¥100, ¥1
Rarely used: ¥2, 2角, 5角, 1角
Central bank中國人民銀行
Users
中國

即時貨幣匯率

貨幣匯率變更
EUR / USD1.18021
GBP / EUR1.16990
USD / JPY109.924
GBP / USD1.38073
USD / CHF0.915466
USD / CAD1.25876
EUR / JPY129.734
AUD / USD0.735313

中央銀行匯率

貨幣Interest Rate
JPY-0.10%
CHF-0.75%
EUR0.00%
USD0.25%
CAD0.25%
AUD0.10%
NZD0.25%
GBP0.10%