What is the difference between Renminbi, Yuan, ￥, RMB and CNY?
The Renminbi(RMB) is the official name of China’s currency. The principal unit of RMB is called the Chinese Yuan (CNY).
Category: About Renminbi (RMB)
What is the Renminbi?
Renminbi, (Chinese: “people’s money”) also called yuan, monetary unit of China. One renminbi (yuan) is divided into 100 fen or 10 jiao.
The first Renminbi in history
The first batch of Renminbi was issued on December 1, 1948, in a three-story gray building at No. 11 Zhonghua Beidajie in present-day Shijiazhuang, the original site of the People’s Bank of China’s head office. Three types of coupons were issued in the first batch of Renminbi: the 10 yuan irrigation field mine, the 20 yuan fertilizer train, and the 50 yuan waterwheel mine wagon.