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The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China. [1] Although it is not a freely convertible currency , and has an official exchange rate , the CNY plays an important role in the world economy and international trade .
Chinese Renminbi (yuan) [19] CNY China ¥ [19] [20] Jiao [19] Australian dollar [21] AUD Christmas Island : A$ [21] cent [21] AUD Cocos (Keeling) Islands : A$ [21] cent [21] Euro [5] [22] EUR Cyprus € [5] cent [5] US Dollar [23] USD East Timor: US$ [23] Centavo [23] Lari [24] GEL Georgia: ლარი [25] Tetri [24] Hong Kong dollar [26] HKD ...
China: Renminbi: People's Bank of China: Partially (basket) East Timor: United States dollar: Banco Central de Timor-Leste: float Fiji: Fijian dollar: Reserve Bank of Fiji Georgia: Georgian lari: National Bank of Georgia Hong Kong: Hong Kong dollar: Hong Kong Monetary Authority: 1 USD = 7.80 HKD India: Indian rupee: Reserve Bank of India ...
Renminbi currency value is a debate affecting the Chinese currency unit, the renminbi (Chinese: 人民币 Code:CNY). The renminbi is classified as a fixed exchange rate currency "with reference to a basket of currencies ", [ 1 ] which has drawn attention from nations which have freely floated currencies and has become a source of trade friction ...
Hawaiian dollar – Hawaii; Hong Kong dollar – Hong Kong; International dollar – hypothetical currency pegged 1:1 to the United States dollar; Jamaican dollar – Jamaica; Kiautschou dollar – Qingdao; Kiribati dollar – Kiribati; Liberian dollar – Liberia; Malaya and British Borneo dollar – Malaya, Singapore, Sarawak, British North ...
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.The currency that is used as the reference is called the counter currency, quote currency, or currency [1] and the currency that is quoted in relation is called the base currency or transaction currency.
1 US dollar to renminbi, since 1981. 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 it reached ¥1.50 per dollar in 1980. When China's economy gradually opened in the 1980s, the renminbi was devalued in order to improve the competitiveness of Chinese exports.
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