Chinese Yuan (CNY) Exchange Rates on 29th January 2020 (29/01/2020)

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Exchange rates for Chinese Yuan (CNY)

Updated: 2020-01-29
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY GBP 0.1107 CNY to GBP 9.0352 GBP to CNY
CNY BGN 0.256 CNY to BGN 3.9068 BGN to CNY
CNY HRK 0.9736 CNY to HRK 1.0271 HRK to CNY
CNY CZK 3.3013 CNY to CZK 0.3029 CZK to CNY
CNY DKK 0.9779 CNY to DKK 1.0226 DKK to CNY
CNY EEK 0 CNY to EEK 0 EEK to CNY
CNY HUF 44.238 CNY to HUF 0.0226 HUF to CNY
CNY KZT 54.8639 CNY to KZT 0.0182 KZT to CNY
CNY LVL 0.0872 CNY to LVL 11.4679 LVL to CNY
CNY LTL 0.4257 CNY to LTL 2.3493 LTL to CNY
CNY MKD 8.0478 CNY to MKD 0.1243 MKD to CNY
CNY MDL 2.5323 CNY to MDL 0.3949 MDL to CNY
CNY NOK 1.3137 CNY to NOK 0.7612 NOK to CNY
CNY PLN 0.5589 CNY to PLN 1.7892 PLN to CNY
CNY RON 0.6252 CNY to RON 1.5994 RON to CNY
CNY RUB 8.9779 CNY to RUB 0.1114 RUB to CNY
CNY SKK 0 CNY to SKK 0 SKK to CNY
CNY SEK 1.3846 CNY to SEK 0.7222 SEK to CNY
CNY CHF 0.1404 CNY to CHF 7.1248 CHF to CNY
CNY TRY 0.857 CNY to TRY 1.1669 TRY to CNY
CNY UAH 3.5654 CNY to UAH 0.2805 UAH to CNY
Updated: 2020-01-29
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CNY ARS 8.664 CNY to ARS 0.1154 ARS to CNY
CNY BOB 0.9963 CNY to BOB 1.0037 BOB to CNY
CNY BRL 0.6047 CNY to BRL 1.6536 BRL to CNY
CNY CAD 0.1897 CNY to CAD 5.2709 CAD to CNY
CNY KYD 0.1201 CNY to KYD 8.328 KYD to CNY
CNY CLP 113.5245 CNY to CLP 0.0088 CLP to CNY
CNY COP 488.1939 CNY to COP 0.002 COP to CNY
CNY CRC 81.4803 CNY to CRC 0.0123 CRC to CNY
CNY DOP 7.6639 CNY to DOP 0.1305 DOP to CNY
CNY SVC 1.2608 CNY to SVC 0.7931 SVC to CNY
CNY FJD 0.3148 CNY to FJD 3.1769 FJD to CNY
CNY HNL 3.5485 CNY to HNL 0.2818 HNL to CNY
CNY JMD 20.0882 CNY to JMD 0.0498 JMD to CNY
CNY MXN 2.6971 CNY to MXN 0.3708 MXN to CNY
CNY ANG 0.237 CNY to ANG 4.219 ANG to CNY
CNY PYG 939.5167 CNY to PYG 0.0011 PYG to CNY
CNY PEN 0.4801 CNY to PEN 2.0829 PEN to CNY
CNY TTD 0.9742 CNY to TTD 1.0264 TTD to CNY
CNY USD 0.1442 CNY to USD 6.9368 USD to CNY
CNY UYU 5.362 CNY to UYU 0.1865 UYU to CNY
CNY VEF 1.4398 CNY to VEF 0.6945 VEF to CNY
Updated: 2020-01-29
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CNY AUD 0.213 CNY to AUD 4.6949 AUD to CNY
CNY BDT 12.2154 CNY to BDT 0.0819 BDT to CNY
CNY BND 0.1958 CNY to BND 5.1078 BND to CNY
CNY CNY 1 CNY to CNY 1 CNY to CNY
CNY INR 10.2657 CNY to INR 0.0974 INR to CNY
CNY IDR 1964.4124 CNY to IDR 0.0005 IDR to CNY
CNY JPY 15.7261 CNY to JPY 0.0636 JPY to CNY
CNY MYR 0.5882 CNY to MYR 1.7 MYR to CNY
CNY MVR 2.2273 CNY to MVR 0.449 MVR to CNY
CNY NPR 16.4399 CNY to NPR 0.0608 NPR to CNY
CNY NZD 0.2206 CNY to NZD 4.5325 NZD to CNY
CNY PKR 22.279 CNY to PKR 0.0449 PKR to CNY
CNY PGK 0.4913 CNY to PGK 2.0353 PGK to CNY
CNY PHP 7.3279 CNY to PHP 0.1365 PHP to CNY
CNY SCR 1.975 CNY to SCR 0.5063 SCR to CNY
CNY SGD 0.1958 CNY to SGD 5.1081 SGD to CNY
CNY KRW 169.7303 CNY to KRW 0.0059 KRW to CNY
CNY LKR 26.151 CNY to LKR 0.0382 LKR to CNY
CNY TWD 4.3372 CNY to TWD 0.2306 TWD to CNY
CNY THB 4.4598 CNY to THB 0.2242 THB to CNY
Updated: 2020-01-29
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CNY BHD 0.0543 CNY to BHD 18.3993 BHD to CNY
CNY EGP 2.2776 CNY to EGP 0.4391 EGP to CNY
CNY HKD 1.1208 CNY to HKD 0.8923 HKD to CNY
CNY ILS 0.4979 CNY to ILS 2.0083 ILS to CNY
CNY JOD 0.1022 CNY to JOD 9.7812 JOD to CNY
CNY KWD 0.0438 CNY to KWD 22.8267 KWD to CNY
CNY LBP 217.8512 CNY to LBP 0.0046 LBP to CNY
CNY OMR 0.0555 CNY to OMR 18.0176 OMR to CNY
CNY QAR 0.5249 CNY to QAR 1.9052 QAR to CNY
CNY SAR 0.5409 CNY to SAR 1.8488 SAR to CNY
CNY AED 0.5295 CNY to AED 1.8886 AED to CNY
CNY YER 36.0832 CNY to YER 0.0277 YER to CNY
Updated: 2020-01-29
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CNY DZD 17.3197 CNY to DZD 0.0577 DZD to CNY
CNY KES 14.5389 CNY to KES 0.0688 KES to CNY
CNY MUR 5.312 CNY to MUR 0.1883 MUR to CNY
CNY MAD 1.3912 CNY to MAD 0.7188 MAD to CNY
CNY NAD 2.0946 CNY to NAD 0.4774 NAD to CNY
CNY NIO 4.8607 CNY to NIO 0.2057 NIO to CNY
CNY NGN 52.2581 CNY to NGN 0.0191 NGN to CNY
CNY SLL 1398.343 CNY to SLL 0.0007 SLL to CNY
CNY ZAR 2.0939 CNY to ZAR 0.4776 ZAR to CNY
CNY TZS 332.357 CNY to TZS 0.003 TZS to CNY
CNY TND 0.4081 CNY to TND 2.4501 TND to CNY
CNY UGX 529.9353 CNY to UGX 0.0019 UGX to CNY
CNY XOF 85.8375 CNY to XOF 0.0116 XOF to CNY
CNY ZMK 1297.603 CNY to ZMK 0.0008 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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