Renminbi

The renminbi (abbreviated RMB; simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì, IPA: [ʐə̌n.mǐn.pî]; lit. 'people's currency'; symbol: /¥; code: CNY) is the official currency of the People's Republic of China and one of the world's reserve currencies, ranking as the eighth most traded currency in the world as of April 2019.[5]

Renminbi
人民币 (Chinese)
Renminbi banknotes of the 2005 series
ISO 4217
CodeCNY
Number156
Exponent2
Denominations
Subunit
1yuán ()
110jiǎo ()
1100fēn ()
PluralThe language(s) of this currency do(es) not have a morphological plural distinction.
Symbol元 / ¥
yuán ()kuài ()
jiǎo ()máo ()
BanknotesCN¥1, CN¥5, CN¥10, CN¥20, CN¥50, CN¥100
CoinsCN¥0.01, CN¥0.02, CN¥0.05, CN¥0.1, CN¥0.5, CN¥1
Demographics
Date of introduction1948 (by the People's Bank of China in Communist-held areas)
1949 (by the People's Republic of China)
ReplacedChinese customs gold unit
Official user(s) People's Republic of China (Mainland China)
Unofficial user(s)International Monetary Fund
 Macau
 Laos


 North Korea[1]
 Myanmar[2]
   Nepal  Venezuela
 Zimbabwe[3][4]
Issuance
Central bankPeople's Bank of China
Websitewww.pbc.gov.cn
PrinterChina Banknote Printing and Minting Corporation
Websitewww.cbpm.cn
MintChina Banknote Printing and Minting Corporation
Websitewww.cbpm.cn
Valuation
Inflation2.5%, January 2017
Source
MethodCPI
Pegged withPartially, to a basket of trade-weighted international currencies
Renminbi
"Renminbi" in Simplified (top) and Traditional (bottom) Chinese characters
Simplified Chinese人民币
Traditional Chinese人民幣
Literal meaning"People's Currency"
Yuan
Simplified Chinese圆 (or 元)
Traditional Chinese圓 (or 元)
Literal meaning"circle" (originally from the round shape of silver coins)

The yuan (Chinese: ; pinyin: yuán) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan divides into ten jiao (Chinese: ; pinyin: jiǎo), and a jiao in turn divides into ten fen (Chinese: ; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority of China.[6]