Chinese Yuan

The Chinese Yuan is a unit of the Renminbi, which is the official currency of the People’s Republic of China. The word Yuan means “round” in Chinese, and it is also used to refer to the currency units of Japan and Korea. The symbol for the Yuan is ¥, and the currency code is CNY

The Yuan has a history of over 3000 years, and it was originally based on the value of silver. The Yuan was decimalised in 1971, and divided into 100 fen. The Yuan has different denominations of banknotes and coins, with a common design featuring the portrait of Mao Zedong on one side, and various landmarks and cultural symbols on the other side. The Yuan is legal tender in all parts of China, regardless of their origin

The Yuan is managed by the People’s Bank of China, which is the central bank of China. The bank is responsible for setting the monetary policy and maintaining the price stability in the country. The bank also issues the Yuan banknotes and oversees the Yuan coins. The Yuan is a managed float, which means its value is determined by a basket of foreign currencies. The Yuan is also allowed to trade directly with some other currencies, such as the Australian dollar and the Japanese yen

The Yuan is a symbol of China’s economic power and influence, and a major player in the global financial system. It reflects the values and achievements of the Chinese people, and fosters a sense of pride and identity among them. The Yuan is more than just a currency, it is a part of China’s culture and history.

Below is the related paper currencies in Chinese Yuan.

2015     CNY100    

 

2019     CNY10    

 

2019     CNY1    

 

2019     CNY20    

 

2019     CNY50    

 

2005     CNY5