Renminbi: Difference between revisions

{{Short description|Currency of China}}{{Redirect-several|CNY|RMB}}

| rarely_used_coins = ¥0.01, ¥0.02, ¥0.05, ¥5, ¥10

The '''renminbi''' ({{zh|c=人民币|p=Rénmínbì|l=People's Currency}}; [[currency symbol|symbol]]: '''[[Yen and yuan sign|¥]]'''; [[ISO 4217|ISO code]]: '''CNY'''; [[abbreviation]]: '''RMB'''), also known as '''Chinese Yuan''' is the official [[currency]] of the [[China|People's Republic of China]].{{efn|Excluding [[Special administrative regions of China|special administrative regions]] Hong Kong and Macau.}} The renminbi is issued by the [[People's Bank of China]], the [[Central bank|monetary authority]] of China.<ref>Article 2, {{cite web |date=27 December 2003 |title=The People's Bank of China Law of the People's Republic of China |url=http://www.cin.gov.cn/law/main/2004010802.htm |url-status=dead |archive-url=https://web.archive.org/web/20070320211302/http://www.cin.gov.cn/law/main/2004010802.htm |archive-date=20 March 2007}}</ref> It is the world's [[Template:Most traded currencies|5thfifth most traded currency]] as of April 2022.<ref name=BIS>{{cite web|title=Triennial Central Bank Survey Foreign exchange turnover in April 2022|url=https://www.bis.org/statistics/rpfx22_fx.pdf|publisher=Bank for International Settlements|access-date=31 October 2022|page=5|date=27 October 2022|archive-date=27 October 2022|archive-url=https://web.archive.org/web/20221027140118/https://www.bis.org/statistics/rpfx22_fx.pdf|url-status=live}}</ref>

The [[Yuan (currency)|yuan]] ({{zh|s=元}} or {{zh|s=圆|t=圓|plabels=yuánno}}) is the basic unit of the renminbi. One yuan is divided into 10 [[Jiao (currency)|jiao]] ({{zh|s=角|plabels=jiǎono}}), and the jiao is further subdivided into 10 [[Fen (currency)|fen]] ({{zh|s=分|plabels=fēnno}}). The renminbiword ''yuan'' is issuedwidely byused theto [[People'srefer Bankto ofthe China]]Chinese currency generally, theespecially in international contexts.{{efn|A similar case arises with [[CentralPound banksterling|monetary authoritySterling]], the currency of Chinathe United Kingdom.<ref>Article 2,Its {{citebasic web|date=27unit Decemberis 2003the [[Pound sterling|url=http://www.cin.gov.cn/law/main/2004010802.htm|title=Thepound]] Peopleand the word ''pound''s Bankis ofwidely Chinaused Lawto ofrefer to the People'sBritish Republiccurrency ofgenerally, China|url-status=dead|archive-url=https://web.archive.org/web/20070320211302/http://www.cin.gov.cn/law/main/2004010802.htm|archive-date=20especially Marchin 2007international contexts.}}</ref>

|"unit", "circle"

|kuai or quay<ref>{{cite book |url=https://books.google.com/books?id=JgFNBQAAQBAJ&q=quay&pg=PA59 |title=Chinese Business 2.0 &#124; Internationalizing the RMB |date=10 November 2014 |isbn=9783319076775 |access-date=24 May 2019 |last1=Randau |first1=Henk R. |last2=Medinskaya |first2=Olga |publisher=Springer |archive-date=10 February 2023 |archive-url=https://web.archive.org/web/20230210075717/https://books.google.com/books?id=JgFNBQAAQBAJ&q=quay&pg=PA59 |url-status=live }}</ref>