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20160215 Exchange Rate .pdf



Original filename: 20160215 Exchange Rate.pdf
Title: CNY - Chinese Yuan Renminbi rates, news, and tools

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CNY - Chinese Yuan Renminbi

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China, Yuan Renminbi
The Chinese Yuan Renminbi is the currency of China. Our currency rankings show that the most popular China Yuan Renminbi exchange rate is the USD to
CNY 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. 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. More info ►
Full currency list

Top CNY Exchange Rates

Change / Remove a currency ... ▼

Auto-refresh 15x
0 : 55
1 CNY
Inverse:
1 HKD
Inverse:

USD
0.15236
6.56360
0.12846
7.78438

EUR
0.13575
7.36633
0.11446
8.73642

GBP
0.10498
9.52544
0.08852
11.2971

CAD
0.21066
4.74703
0.17762
5.62995

AUD
0.21372
4.67897
0.18021
5.54923

Mid-market rates: 2016-02-15 02:37 UTC

Click on a currency code to learn about it.

Currency Facts
CNY Stats
Name: Chinese Yuan Renminbi

CNY Profile
Inflation: 2.00%

Symbol: ¥ Jiao: 角

Nicknames: kuài, Mao

Minor Unit:
1/10 = Jiao

Coins:
Freq Used: ¥1, 5角, 1角

Central Bank Rate: 0.00

Banknotes:
Freq Used: ¥5, ¥10, ¥20, ¥50, ¥100, ¥1
Rarely Used: ¥2, 2角, 5角, 1角

Top CNY Conversion:
USD/CNY

Central Bank:
People's Bank of China
Website: http://www.pbc.gov.cn

Top CNY Chart:
USD/CNY Chart

Users: China
Have more info about the Chinese Yuan Renminbi?
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CNY - Chinese Yuan Renminbi

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Chinese Yuan Renminbi History
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.

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CENTRAL BANK RATES
JPY

POPULAR CURRENCY PROFILES

0.10%

CHF

-0.75%

EUR

0.05%

USD

0.50%

CAD

0.50%

AUD

2.00%

NZD

2.50%

GBP

0.50%

USD - US Dollar
EUR - Euro
GBP - British Pound
INR - Indian Rupee
AUD - Australian Dollar
CAD - Canadian Dollar
SGD - Singapore Dollar
CHF - Swiss Franc
MYR - Malaysian Ringgit
JPY - Japanese Yen
CNY - Chinese Yuan Renminbi
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