Interesting Facts about Chinese Currency
2016-02-23 Tue
Did you know that the Chinese currency is officially called as “Renminbi” and the popular Chinese “Yaun” is its basic unit?Renminbi and Yuan are used interchangeably, but "Renminbi" is the "official" term used to refer to China's currency and it literally means "the people's currency". Renminbi is also the legal tender of the People's Republic of China also known as the Chinese Yuan (CNY) and represented by the symbol "¥".
"Yuan" is the actual unit, and it is the more casual term used by every day people on the streets, especially in international contexts. The word "Yuan" means "round". Similar to the way "sterling" and "pound" are used in the U.K. which respectively refers to the British currency and its primary unit.
The Yaun is divided into 10 Jiao and Jiao is further divided into 10 Fen.
The Chinese Renminbi was the 5th most traded currency in the world in 2015 and 2016 will see the “yuan” included in the basket of currencies used by the IMF (reserve currency).
More interesting facts will follow, Keep visiting this space!
Latest News
-
Ghiyath Shah as Heir Apparent
2025-09-25 ThuGhiyath Shah was the ruler of the Malwa Sultanate, reigning from 1456 to 1500. From 1456 to 1469, he...
-
Malwa Sultan Mahmud Shah Silver Coins
2025-09-11 ThuMalwa Sultan Mahmud Shah minted silver coins in round and square flans. <br><br> For round coins,...
-
Malwa Sultan Mahmud Shah Billon coin
2025-08-26 TueMalwa Sultan Mahmud Shah's billon coins followed three weight standards: 100 rati, 96 rati, and 80 r...
-
Fascinating Archaeological Facts on Postage Stamps - 91
2025-08-23 SatRhinoceros is one of the oldest land mammal species existing in India. There are five species of rhi...
-
Fascinating Archaeological Facts on Postage Stamps - 90
2025-08-23 SatUthiramerur, a Village in Kanchipuram, Tamil Nadu, is notable for its Temple inscriptions that descr...