Renminbi

Renminbi
人民币 (in Chinese)
ISO 4217 Code	CNY
Official user(s)	People's Republic of China
Unofficial user(s)	North Korea (until Nov 2009)[1]  Myanmar (in Kokang and Wa)  Hong Kong  Macau
Inflation	1.7%, October 2012
Source	BBC News
Method	CPI
Pegged with	Partially, to a basket of trade-weighted international currencies
Subunit
1	yuán (元,圆)
1/10	jiǎo (角)
1/100	fēn (分)
Symbol	¥
Nickname	none
yuán (元,圆)	kuài (块)
jiǎo (角)	máo (毛)
Plural	The language(s) of this currency does not have a morphological plural distinction.
Coins
Freq. used	¥0.1, ¥0.5, ¥1
Rarely used	¥0.01, ¥0.02, ¥0.05
Banknotes
Freq. used	¥1, ¥5, ¥10, ¥20, ¥50, ¥100
Rarely used	¥0.1, ¥0.2, ¥0.5, ¥2
Central bank	People's Bank of China
Website	www.pbc.gov.cn

The renminbi is the currency of the People's Republic of China. It is the main currency used in mainland China. It is also sometimes accepted in Hong Kong and Macau, and can be easily exchanged in those territories. The currency is issued by the People's Bank of China, the monetary authority of China.^[2] Its name means "people's currency".

The main unit of renminbi is the yuán. One yuan is divided into 10 jiǎo. One jiǎo is subdivided into 10 fēn. Renminbi banknotes are available in denominations from 1 jiao to 100 yuan (¥0.1–100). Coins have denominations from 1 fen to 1 yuan (¥0.01–1). Some denominations exist in both coin and banknote form. Coins under ¥0.1 are rarely used.

Currently, only ¥20,000 can be taken in or out of China without declaring it, or telling customs that you have it.

1. ↑ "RMB increases its influence in neighbouring areas". People's Daily. 2004-02-17. Retrieved 2007-01-13.
2. ↑ Article 2, "The People's Bank of China Law of the People's Republic of China". 2003-12-27. Archived from the original on 2007-03-20. Retrieved 2013-07-03.