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Chinese Yuan Renminbi

China - Chinese Yuan Renminbi (CNY)

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Description

The Chinese yuan (renminbi) is the currency of China. Our records show the Chinese yuan (renminbi) is the eighth most traded currency with us. The banknotes are printed on paper. The People’s Bank of China (PBC) is responsible for issuing the Chinese yuan (renminbi) banknotes. The Chinese yuan is also known as the renminbi, which translates to “the people’s currency”. Currently the Chinese yuan is pegged to a basket of currencies, including the US dollar. This allows for cheaper exports and a greater global motivation to buy China’s goods.