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Commemorative Banknotes Of The Chinese Renminbi
The renminbi ( ; symbol: ¥; ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the People's Republic of China. The renminbi is issued by the People's Bank of China, the monetary authority of China. It is the world's fifth-most-traded currency as of April 2022. The yuan () is the basic unit of the renminbi. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The word ''yuan'' is widely used to refer to the Chinese currency generally, especially in international contexts. Valuation Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yen And Yuan Sign
The yen and yuan sign (¥) is a currency sign used for the Japanese yen and the Renminbi, Chinese yuan currency, currencies when writing in Latin scripts. This character resembles a capital letter Y with a single or double horizontal stroke. The symbol is usually placed before the value it represents, for example: ¥50, or JP¥50 and CN¥50 when disambiguation is needed. When writing in Japanese and Chinese, the Japanese kanji or Chinese character is written following the amount, for example in Japan, and or in China. History Japan After the institution of Japan's Japanese currency#Imperial Japan (1871–present), New Currency Act, from 1871 through the early 20th century, the yen was either referred to (in documents printed in Latin script) by its full name ''yen,'' or abbreviated with a capital "Y". One of the earliest uses of can be found in J. Twizell Wawn's "Japanese Municipal Government With an Account of the Administration of the City of Kobe", published in 1899. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
