Daily Archives: February 25, 2022

Literally translated as “the people’s currency” the renminbi (RMB) has been the currency of China for over 50 years. It is also known as the Chinese yuan (CNY) and by the symbol ‘¥’. When you’re buying currency for China, look out for the currency code CNY. And once you’re in China, you’ll see the 10 […]

During the Imperial period, banknotes were issued in denominations of 1, 2 and 5 jiao, 1, 2, 5, 10, 50 and 100 yuan, although notes below 1 yuan were uncommon. For most of its early history, the renminbi was pegged to the U.S. dollar at ¥2.46 per dollar. During the 1970s, it was revalued until […]