Chinese Yuan (CNY) Exchange Rates on 29th March 2017 (29/03/2017)

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Exchange rates for Chinese Yuan (CNY)

Updated: 2017-03-29
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY GBP 0.1006 CNY to GBP 9.9404 GBP to CNY
CNY BGN 0.2476 CNY to BGN 4.0385 BGN to CNY
CNY HRK 0.9623 CNY to HRK 1.0392 HRK to CNY
CNY CZK 3.4849 CNY to CZK 0.287 CZK to CNY
CNY DKK 0.9397 CNY to DKK 1.0642 DKK to CNY
CNY EEK 0 CNY to EEK 0 EEK to CNY
CNY HUF 39.6672 CNY to HUF 0.0252 HUF to CNY
CNY KZT 29.6908 CNY to KZT 0.0337 KZT to CNY
CNY LVL 0.0887 CNY to LVL 11.2746 LVL to CNY
CNY LTL 0.4359 CNY to LTL 2.294 LTL to CNY
CNY MKD 7.7504 CNY to MKD 0.129 MKD to CNY
CNY MDL 2.3328 CNY to MDL 0.4287 MDL to CNY
CNY NOK 1.041 CNY to NOK 0.9606 NOK to CNY
CNY PLN 0.5299 CNY to PLN 1.8872 PLN to CNY
CNY RON 0.5577 CNY to RON 1.793 RON to CNY
CNY RUB 6.1266 CNY to RUB 0.1632 RUB to CNY
CNY SKK 0 CNY to SKK 0 SKK to CNY
CNY SEK 1.1633 CNY to SEK 0.8596 SEK to CNY
CNY CHF 0.1527 CNY to CHF 6.5494 CHF to CNY
CNY TRY 0.3591 CNY to TRY 2.7845 TRY to CNY
CNY UAH 2.1174 CNY to UAH 0.4723 UAH to CNY
Updated: 2017-03-29
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CNY ARS 1.3708 CNY to ARS 0.7295 ARS to CNY
CNY BOB 1.1272 CNY to BOB 0.8872 BOB to CNY
CNY BRL 0.3734 CNY to BRL 2.6778 BRL to CNY
CNY CAD 0.1803 CNY to CAD 5.5471 CAD to CNY
CNY KYD 0.1338 CNY to KYD 7.4756 KYD to CNY
CNY CLP 96.1075 CNY to CLP 0.0104 CLP to CNY
CNY COP 322.2601 CNY to COP 0.0031 COP to CNY
CNY CRC 88.401 CNY to CRC 0.0113 CRC to CNY
CNY DOP 7.1256 CNY to DOP 0.1403 DOP to CNY
CNY SVC 1.4269 CNY to SVC 0.7008 SVC to CNY
CNY FJD 0.3011 CNY to FJD 3.3207 FJD to CNY
CNY HNL 3.4502 CNY to HNL 0.2898 HNL to CNY
CNY JMD 18.3602 CNY to JMD 0.0545 JMD to CNY
CNY MXN 2.1566 CNY to MXN 0.4637 MXN to CNY
CNY ANG 0.292 CNY to ANG 3.4246 ANG to CNY
CNY PYG 700.5209 CNY to PYG 0.0014 PYG to CNY
CNY PEN 0.4657 CNY to PEN 2.1471 PEN to CNY
CNY TTD 1.0356 CNY to TTD 0.9656 TTD to CNY
CNY USD 0.1631 CNY to USD 6.13 USD to CNY
CNY UYU 3.9527 CNY to UYU 0.253 UYU to CNY
CNY VEF 1.0257 CNY to VEF 0.9749 VEF to CNY
Updated: 2017-03-29
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CNY AUD 0.1794 CNY to AUD 5.5739 AUD to CNY
CNY BDT 12.6337 CNY to BDT 0.0792 BDT to CNY
CNY BND 0.2061 CNY to BND 4.853 BND to CNY
CNY CNY 1 CNY to CNY 1 CNY to CNY
CNY INR 9.9274 CNY to INR 0.1007 INR to CNY
CNY IDR 1936.3234 CNY to IDR 0.0005 IDR to CNY
CNY JPY 17.4658 CNY to JPY 0.0573 JPY to CNY
CNY MYR 0.5209 CNY to MYR 1.9198 MYR to CNY
CNY MVR 2.5073 CNY to MVR 0.3988 MVR to CNY
CNY NPR 15.9131 CNY to NPR 0.0628 NPR to CNY
CNY NZD 0.1997 CNY to NZD 5.0063 NZD to CNY
CNY PKR 16.6884 CNY to PKR 0.0599 PKR to CNY
CNY PGK 0.4038 CNY to PGK 2.4765 PGK to CNY
CNY PHP 7.1639 CNY to PHP 0.1396 PHP to CNY
CNY SCR 2.1171 CNY to SCR 0.4723 SCR to CNY
CNY SGD 0.2037 CNY to SGD 4.9091 SGD to CNY
CNY KRW 169.1183 CNY to KRW 0.0059 KRW to CNY
CNY LKR 21.2521 CNY to LKR 0.0471 LKR to CNY
CNY TWD 4.9001 CNY to TWD 0.2041 TWD to CNY
CNY THB 5.2496 CNY to THB 0.1905 THB to CNY
Updated: 2017-03-29
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CNY BHD 0.0615 CNY to BHD 16.2557 BHD to CNY
CNY EGP 1.1668 CNY to EGP 0.857 EGP to CNY
CNY HKD 1.2644 CNY to HKD 0.7909 HKD to CNY
CNY ILS 0.5921 CNY to ILS 1.6888 ILS to CNY
CNY JOD 0.1156 CNY to JOD 8.6509 JOD to CNY
CNY KWD 0.0467 CNY to KWD 21.394 KWD to CNY
CNY LBP 246.8183 CNY to LBP 0.0041 LBP to CNY
CNY OMR 0.0628 CNY to OMR 15.9242 OMR to CNY
CNY QAR 0.5941 CNY to QAR 1.6833 QAR to CNY
CNY SAR 0.6119 CNY to SAR 1.6343 SAR to CNY
CNY AED 0.5992 CNY to AED 1.6688 AED to CNY
CNY YER 35.0578 CNY to YER 0.0285 YER to CNY
Updated: 2017-03-29
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CNY DZD 13.197 CNY to DZD 0.0758 DZD to CNY
CNY KES 14.5024 CNY to KES 0.069 KES to CNY
CNY MUR 5.1713 CNY to MUR 0.1934 MUR to CNY
CNY MAD 1.4052 CNY to MAD 0.7116 MAD to CNY
CNY NAD 1.7889 CNY to NAD 0.559 NAD to CNY
CNY NIO 4.2749 CNY to NIO 0.2339 NIO to CNY
CNY NGN 26.5579 CNY to NGN 0.0377 NGN to CNY
CNY SLL 712.861 CNY to SLL 0.0014 SLL to CNY
CNY ZAR 1.7906 CNY to ZAR 0.5585 ZAR to CNY
CNY TZS 271.3656 CNY to TZS 0.0037 TZS to CNY
CNY TND 0.2879 CNY to TND 3.4731 TND to CNY
CNY UGX 424.9554 CNY to UGX 0.0024 UGX to CNY
CNY XOF 82.8463 CNY to XOF 0.0121 XOF to CNY
CNY ZMK 858.6211 CNY to ZMK 0.0012 ZMK to CNY



Chinese Yuan (CNY)

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

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
XE.com Live Currency Converter for CNY

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