The

renminbi The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the Peop ...

(RMB, also known as Chinese yuan;

ISO The International Organization for Standardization (ISO ; ; ) is an independent, non-governmental, international standard development organization composed of representatives from the national standards organizations of member countries. Me ...

code: CNY) is the official currency of the People's Republic of China. Although it is not a freely

convertible currency Convertibility is the quality that allows money or other financial instruments to be converted into other liquid stores of value. Convertibility is an important factor in international trade, where instruments valued in different currencies mu ...

, and has an official

exchange rate In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...

, the CNY plays an important role in the world economy and

international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significan ...

. This page lists past and present CNY exchange rates with other major currencies, in both nominal and

purchasing power parity Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market bask ...

(PPP) terms.

Background

After taking control of

economic policy ''Economic Policy'' is a quarterly peer-reviewed academic journal published by Oxford University Press, Oxford Academic on behalf of the Centre for Economic Policy Research, the Center for Economic Studies (University of Munich), and the Paris Scho ...

in 1978,

Deng Xiaoping Deng Xiaoping also Romanization of Chinese, romanised as Teng Hsiao-p'ing; born Xiansheng (). (22 August 190419 February 1997) was a Chinese statesman, revolutionary, and political theorist who served as the paramount leader of the People's R ...

opened up China to foreign trade and investment, permitting a large influx of foreign capital and sparking rapid economic growth. In 2010, China's annual level of inward

foreign direct investment A foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country. More specifically, it describes a controlling ownership an asset in one country by an entity based i ...

(FDI) reached a record US$106 billion. As of 2013, China is the world's second-largest economy, with an estimated nominal gross domestic product (GDP) of US$8.25 trillion and a total international trade value of US$3.64 trillion. Since the mid-1990s, the official CNY exchange rate has been adopted by numerous international financial and governmental organizations, such as the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...

(IMF), the

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

and the United Nations (UN). The perceived undervaluing of the CNY by the Chinese government has led to tensions between China and other major economies. In August 2019, US President

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...

designated China a currency manipulator, a designation not supported by the IMF.New IMF report doesn’t back Trump’s currency manipulation charge against China
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Nominal exchange rates

List of nominal exchange rates

List of World Bank nominal exchange rates

List of IMF nominal exchange rates

List of purchasing power parity exchange rates

Purchasing power parity Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market bask ...

(PPP) figures vary based on inflation and the revision of census figures in different periods. The following is a list of CNY exchange rates based on PPP, estimated according to the

's World Economic Outloo wek (WEO) database from 2006–present. The exchange rate shown is Intl$. 1 to Chinese yuan (CNY).

References

{{Reflist

External links

China State Administration of Foreign Exchange

Renminbi The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the Peop ...

People's Bank of China Foreign trade of China