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Chinese Yuan (CNY) Exchange Rates on 06th May 2024 (06/05/2024)

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Exchange rates for Chinese Yuan (CNY)

Updated: 2024-05-06
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY CNY GBP GBP 0.1104 CNY to GBP 9.0546 GBP to CNY
CNY CNY BGN BGN 0.2518 CNY to BGN 3.9711 BGN to CNY
CNY CNY HRK HRK 0.9811 CNY to HRK 1.0192 HRK to CNY
CNY CNY CZK CZK 3.2278 CNY to CZK 0.3098 CZK to CNY
CNY CNY DKK DKK 0.9602 CNY to DKK 1.0415 DKK to CNY
CNY CNY EEK EEK 0 CNY to EEK 0 EEK to CNY
CNY CNY HUF HUF 50.152 CNY to HUF 0.0199 HUF to CNY
CNY CNY KZT KZT 61.458 CNY to KZT 0.0163 KZT to CNY
CNY CNY LVL LVL 0.0838 CNY to LVL 11.9301 LVL to CNY
CNY CNY LTL LTL 0 CNY to LTL 0 LTL to CNY
CNY CNY MKD MKD 7.922 CNY to MKD 0.1262 MKD to CNY
CNY CNY MDL MDL 2.4494 CNY to MDL 0.4083 MDL to CNY
CNY CNY NOK NOK 1.506 CNY to NOK 0.664 NOK to CNY
CNY CNY PLN PLN 0.5567 CNY to PLN 1.7964 PLN to CNY
CNY CNY RON RON 0.6402 CNY to RON 1.562 RON to CNY
CNY CNY RUB RUB 12.6905 CNY to RUB 0.0788 RUB to CNY
CNY CNY SKK SKK 0 CNY to SKK 0 SKK to CNY
CNY CNY SEK SEK 1.4988 CNY to SEK 0.6672 SEK to CNY
CNY CNY CHF CHF 0.1255 CNY to CHF 7.9669 CHF to CNY
CNY CNY TRY TRY 4.4757 CNY to TRY 0.2234 TRY to CNY
CNY CNY UAH UAH 5.4414 CNY to UAH 0.1838 UAH to CNY
Updated: 2024-05-06
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CNY CNY ARS ARS 121.4631 CNY to ARS 0.0082 ARS to CNY
CNY CNY BOB BOB 0.9576 CNY to BOB 1.0443 BOB to CNY
CNY CNY BRL BRL 0.7068 CNY to BRL 1.4148 BRL to CNY
CNY CNY CAD CAD 0.1896 CNY to CAD 5.2738 CAD to CNY
CNY CNY KYD KYD 0.1152 CNY to KYD 8.6781 KYD to CNY
CNY CNY CLP CLP 130.6761 CNY to CLP 0.0077 CLP to CNY
CNY CNY COP COP 538.643 CNY to COP 0.0019 COP to CNY
CNY CNY CRC CRC 70.6735 CNY to CRC 0.0141 CRC to CNY
CNY CNY DOP DOP 8.0352 CNY to DOP 0.1245 DOP to CNY
CNY CNY SVC SVC 1.2099 CNY to SVC 0.8265 SVC to CNY
CNY CNY FJD FJD 0.3122 CNY to FJD 3.2026 FJD to CNY
CNY CNY HNL HNL 3.4159 CNY to HNL 0.2927 HNL to CNY
CNY CNY JMD JMD 21.7092 CNY to JMD 0.0461 JMD to CNY
CNY CNY MXN MXN 2.3507 CNY to MXN 0.4254 MXN to CNY
CNY CNY ANG ANG 0.2492 CNY to ANG 4.0128 ANG to CNY
CNY CNY PYG PYG 1035.1987 CNY to PYG 0.001 PYG to CNY
CNY CNY PEN PEN 0.5162 CNY to PEN 1.9372 PEN to CNY
CNY CNY TTD TTD 0.9365 CNY to TTD 1.0678 TTD to CNY
CNY CNY USD USD 0.1385 CNY to USD 7.2192 USD to CNY
CNY CNY UYU UYU 5.2987 CNY to UYU 0.1887 UYU to CNY
CNY CNY VEF VEF 501816.3644 CNY to VEF 0 VEF to CNY
Updated: 2024-05-06
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CNY CNY AUD AUD 0.2094 CNY to AUD 4.7745 AUD to CNY
CNY CNY BDT BDT 15.176 CNY to BDT 0.0659 BDT to CNY
CNY CNY BND BND 0.187 CNY to BND 5.3484 BND to CNY
CNY CNY CNY CNY 1 CNY to CNY 1 CNY to CNY
CNY CNY INR INR 11.5632 CNY to INR 0.0865 INR to CNY
CNY CNY IDR IDR 2220.2132 CNY to IDR 0.0005 IDR to CNY
CNY CNY JPY JPY 21.3275 CNY to JPY 0.0469 JPY to CNY
CNY CNY MYR MYR 0.657 CNY to MYR 1.522 MYR to CNY
CNY CNY MVR MVR 2.1133 CNY to MVR 0.4732 MVR to CNY
CNY CNY NPR NPR 18.4629 CNY to NPR 0.0542 NPR to CNY
CNY CNY NZD NZD 0.2309 CNY to NZD 4.3307 NZD to CNY
CNY CNY PKR PKR 38.4674 CNY to PKR 0.026 PKR to CNY
CNY CNY PGK PGK 0.5345 CNY to PGK 1.8708 PGK to CNY
CNY CNY PHP PHP 7.9312 CNY to PHP 0.1261 PHP to CNY
CNY CNY SCR SCR 1.9082 CNY to SCR 0.5241 SCR to CNY
CNY CNY SGD SGD 0.1873 CNY to SGD 5.3379 SGD to CNY
CNY CNY KRW KRW 188.4219 CNY to KRW 0.0053 KRW to CNY
CNY CNY LKR LKR 41.1016 CNY to LKR 0.0243 LKR to CNY
CNY CNY TWD TWD 4.4793 CNY to TWD 0.2233 TWD to CNY
CNY CNY THB THB 5.0914 CNY to THB 0.1964 THB to CNY
Updated: 2024-05-06
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CNY CNY BHD BHD 0.0521 CNY to BHD 19.1793 BHD to CNY
CNY CNY EGP EGP 6.6412 CNY to EGP 0.1506 EGP to CNY
CNY CNY HKD HKD 1.083 CNY to HKD 0.9234 HKD to CNY
CNY CNY ILS ILS 0.515 CNY to ILS 1.9418 ILS to CNY
CNY CNY JOD JOD 0.0982 CNY to JOD 10.1826 JOD to CNY
CNY CNY KWD KWD 0.0426 CNY to KWD 23.4779 KWD to CNY
CNY CNY LBP LBP 12382.778 CNY to LBP 0.0001 LBP to CNY
CNY CNY OMR OMR 0.0533 CNY to OMR 18.757 OMR to CNY
CNY CNY QAR QAR 0.5045 CNY to QAR 1.982 QAR to CNY
CNY CNY SAR SAR 0.5196 CNY to SAR 1.9246 SAR to CNY
CNY CNY AED AED 0.509 CNY to AED 1.9648 AED to CNY
CNY CNY YER YER 34.6782 CNY to YER 0.0288 YER to CNY
Updated: 2024-05-06
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CNY CNY DZD DZD 18.6415 CNY to DZD 0.0536 DZD to CNY
CNY CNY KES KES 18.3222 CNY to KES 0.0546 KES to CNY
CNY CNY MUR MUR 6.4027 CNY to MUR 0.1562 MUR to CNY
CNY CNY MAD MAD 1.3947 CNY to MAD 0.717 MAD to CNY
CNY CNY NAD NAD 2.5634 CNY to NAD 0.3901 NAD to CNY
CNY CNY NIO NIO 5.091 CNY to NIO 0.1964 NIO to CNY
CNY CNY NGN NGN 193.0996 CNY to NGN 0.0052 NGN to CNY
CNY CNY SLL SLL 2905.803 CNY to SLL 0.0003 SLL to CNY
CNY CNY ZAR ZAR 2.5662 CNY to ZAR 0.3897 ZAR to CNY
CNY CNY TZS TZS 358.6704 CNY to TZS 0.0028 TZS to CNY
CNY CNY TND TND 0.4324 CNY to TND 2.3129 TND to CNY
CNY CNY UGX UGX 522.9914 CNY to UGX 0.0019 UGX to CNY
CNY CNY XOF XOF 84.3935 CNY to XOF 0.0118 XOF to CNY
CNY CNY ZMK ZMK 1246.8317 CNY to ZMK 0.0008 ZMK to CNY

Chinese Yuan (CNY)

Sign ¥
1 Chinese Yuan is subdivided into 10 jiao or 100 fen.

Hello CNY, RMB, CN¥ are all international foreign currency codes for the renminbi, the official Peoples Republic of China (PRC) currency represented with the accounting symbol, ¥. Historically the renminbi held a fixed value relative to a specified currency, typically the USD, with this value and all monetary policy within the PRC being managed by the Monetary Policy Organization within the PRC. After 2005 this fixed rate of exchange was changed and the currency is now being allowed to float within a narrowly defined range based on a collection of world currencies. The stated goal of the PRC is to slowly allow the CNY to float within an increasingly large and controlled range as they transition from a fully planned economy to a full market economy with a completely free floating currency. This is a long term goal that the PRC has established by which they plan for the CNY to eventually eclipse all other currencies in traded value and in use as an international reserve currency. As it stands in 2011 the CNY is not a highly traded currency nor is it a significant reserve currency by any standard of valuation. While stating the desire for the CNY to be respected as a viable reserve and safe haven currency, it is widely accepted as fact that the PRC is has taken substantial steps to ensure the CNY is undervalued in order to maintain exports and give the PRC a competitive advantage in international trade. This fact among other critical issues all need to be addressed before the CNY is trusted and accepted in worldwide markets.

Coins used:
frequently - ¥0.1, ¥0.5, ¥1
rarely - ¥0.01, ¥0.02, ¥0.05

Banknotes used:
frequently - ¥1, ¥5, ¥10, ¥20, ¥50, ¥100
rarely - ¥0.1, ¥0.2, ¥0.5, ¥2

Central Bank
People's Bank of China
http://www.pbc.gov.cn
The word renminbi is translated as the "people's currency" and each unit of the renminbi is called the yuan, hence the "Y" in the CNY currency code. The yuan can be split into 1/100th of Yuan units known as one f?n, with 10 fen equal to one jiao and 10 jiao equal to one yuan. In practical daily life, the f?n is rarely used with the most common small currency denomination being the jiao. All of these types of CNY denominations are issued by the Peoples Bank of China and are considered legal tender throughout the Chinese mainland excluding Macau and Hong Kong.

The PRC is cautiously making international trade using the CNY as the transacting currency available to other countries. Prior to 2009 all trade had to be completed in USD through a specific process where the USD would be converted throughout the People's Bank of China (PBC) into CNY leaving them with a transaction fee and holding USD, with the PRC company being paid in CNY. In the case of purchases from outside companies, the PBC would remit in USD and hold the CNY with the net result of never allowing USD in nor letting CNY out of the country. Starting in 2009 the PRC began to transact limited business between companies in Shanghai and Guangdong provinces and affiliated companies in Macau, Hong Kong and specific ASEAN member nations.

Citing success of this plot program the PRC began to expand the program to an additional 20 provinces and by the end of 2011 all provinces within the PRC were allowed to transact on a limited and provisional basis with their counterparts in other nations. All of this is strictly controlled and studied as the PRC takes gradual and cautious steps in setting the stage for the CNY to eventually dominate world markets.

While it had been speculated that the CNY would become the third largest reserve currency by the end of 2011, that prediction fell flat as the PRC failed to open liquidity and access to the CNY by international traders and markets. The PRC is clearly taken a slower path than most expected, no doubt as a measure of caution in order to ensure that any openness or allowance for the internationalization of the CNY will not disrupt of negatively alter the economy. This has its roots in the PRC's desire to join the legitimate international community yet their difficulty in shedding their old command and control ways of transacting business. In order for the CNY to overtake the world stage a new era of openness and verifiability will be required, liquidity of all CNY financial instruments needs to be made available, and the PRC must be able to convince the international community that they are committed to openness and progress and will not change course unexpectedly in the future. With these and other changes the CNY is positioned well to overcome the rest of the worlds currencies and become the worlds most widely held reserve currency. While the PRC is taking slow steps, they are making quicker advances in allowing countries that wish to withdraw from the EUR and USD such as Venezuela, Russia, Thailand, and Vietnam.

Recently the PRC has allowed more commodities such as gold to be traded in CNY which will inevitably lead to oil and other oil related commodities all of which further sets the stage for the CNY to quickly overcome most other currencies, possibly even the USD, within a few years. Currently the speculation is that this will make Hong Kong the hub for CNY trades and as a force in commodities as well as oil given the Hong Kong entrance in gold and silver with the Chinese Gold & Silver spot market exchange based in Hong Kong. Though no full speculation would be complete without the possibility that the PRC has it own plans to circumvent Hong Kong and establish a full commodity exchange, currency, and trading hub within the main PRC.

Other References
Wikipedia article on Renminbi

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