Thursday, December 15, 2011

What does the currency RMB stand for?

Chinese Money


The official currency in China is the Renminbi (RMB or CNY)or in Chinese "Ren-min-bi". The basic unit is the yuan (also known as "kuai"),which equals 10 jiao (or "mao"), which is then divided into 10 fen. Paper currency comes in 1.2,5,10,50 and 100 yuan notes. Paper jiao come in denominations of 1,2, and 5. There are also 1 and 2 fen notes, but these are rarely used as their purchasing power is exactly zero. As for coins, there are 1 youan ,1 and 5 jiao,and 1,2, and 5 fen(ahain, the fen are basically useless).|||chinese money .


1 USD = 6.85RMB now


*(i am from china ,i can gurantee this is the right answer)








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