info@rmbup.com Chat on the right bottom

RENMINBI VS YUAN

This is the difference with the renminbi and the yuan.

  • The renminbi (RMB) and the yuan (CNY) are the official names for the currency of China. The terms are often used interchangeably, but there is a difference between the two.
  • The renminbi is the official name of the currency, while the yuan is the unit of measurement for the currency. The renminbi is issued and regulated by the People's Bank of China, the central bank of China, while the yuan is the unit of currency that is used in daily transactions.
  • In other words, the renminbi is the name of the currency, while the yuan is the unit of the currency that is used to represent the value of goods and services. For example, you might say that something costs 50 yuan, but the actual currency that you would use to pay for it would be renminbi.
  • Both the renminbi and the yuan are used in China and in other countries around the world. The renminbi is not fully convertible on the international market, but it is widely used in international trade and financial transactions, particularly in Asia.
  • The Chinese government has been working to increase the use of the renminbi in international transactions and make it more widely accepted as a global currency.

If you need more other information,we can help you.

Clients

Join thousands of satisfied clients from all over the world