Question 1

What is the difference between 'Yuan' and 'Renminbi'?

Accepted Answer

Renminbi RMB is the official name of the Chinese currency while YuanCNY is the basic unit of the currency. Its similar to the distinction betweenpound sterling and pound in the UK. In everyday conversation both terms areoften used interchangeably.

Question 2

How is the value of the Chinese Yuan determined?

Accepted Answer

The value of the CNY is influenced by a variety of factors including  Government policy The Chinese government manages the exchange rate of the   Yuan allowing it to fluctuate within a certain band against a basket of   currencies.  Economic growth Chinas strong economic growth has contributed to the   appreciation of the Yuan over time.  Trade balance Chinas large trade surplus also puts upward pressure on the   Yuans value.  Foreign exchange reserves China holds the worlds largest foreign exchange   reserves which gives it significant influence over the Yuans exchange rate.

Question 3

Can I use Chinese Yuan to buy things online?

Accepted Answer

While the use of CNY in international trade is increasing its not yet widelyaccepted by major online retailers. Most international websites still requirepayment in major currencies like USD or EUR. However some Chinese ecommerceplatforms like AliExpress accept CNY.

Currency	Rate	Change
EUR/USD	1.08978
GBP/EUR	1.19608
USD/VND	24,989.9
USD/JPY	149.187
USD/CNY	7.1128
EUR/JPY	162.581
USD/CHF	0.86225
JPY/VND	167.507

Central Bank	Interest Rate
Australian Central Bank	4.35%
British Central Bank	5%
Chilean Central Bank	5.5%
Chinese Central Bank	3.35%
Czech Central Bank	4.25%
Danish Central Bank	3.25%
Japanese Central Bank	0.25%
Mexican Central Bank	10.5%

CNY - Chinese Yuan

Chinese Yuan - Stats

Chinese Yuan - Profile

Frequently asked questions about Chinese Yuan

Live Currency Rates

Central Bank Rates

Top currency pairings for Chinese Yuan