Chinese Yuan (CNY) Exchange Rates on 24th January 2020 (24/01/2020)

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Exchange rates for Chinese Yuan (CNY)

Updated: 2020-01-24
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY GBP 0.1098 CNY to GBP 9.1102 GBP to CNY
CNY BGN 0.2552 CNY to BGN 3.9192 BGN to CNY
CNY HRK 0.9712 CNY to HRK 1.0297 HRK to CNY
CNY CZK 3.283 CNY to CZK 0.3046 CZK to CNY
CNY DKK 0.9749 CNY to DKK 1.0258 DKK to CNY
CNY EEK 0 CNY to EEK 0 EEK to CNY
CNY HUF 43.9489 CNY to HUF 0.0228 HUF to CNY
CNY KZT 54.6756 CNY to KZT 0.0183 KZT to CNY
CNY LVL 0.0872 CNY to LVL 11.4677 LVL to CNY
CNY LTL 0.4257 CNY to LTL 2.3492 LTL to CNY
CNY MKD 8.0344 CNY to MKD 0.1245 MKD to CNY
CNY MDL 2.5659 CNY to MDL 0.3897 MDL to CNY
CNY NOK 1.2968 CNY to NOK 0.7711 NOK to CNY
CNY PLN 0.5539 CNY to PLN 1.8054 PLN to CNY
CNY RON 0.6237 CNY to RON 1.6034 RON to CNY
CNY RUB 8.921 CNY to RUB 0.1121 RUB to CNY
CNY SKK 0 CNY to SKK 0 SKK to CNY
CNY SEK 1.3743 CNY to SEK 0.7276 SEK to CNY
CNY CHF 0.1399 CNY to CHF 7.1483 CHF to CNY
CNY TRY 0.855 CNY to TRY 1.1696 TRY to CNY
CNY UAH 3.5413 CNY to UAH 0.2824 UAH to CNY
Updated: 2020-01-24
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CNY ARS 8.649 CNY to ARS 0.1156 ARS to CNY
CNY BOB 1 CNY to BOB 1 BOB to CNY
CNY BRL 0.6013 CNY to BRL 1.6632 BRL to CNY
CNY CAD 0.1892 CNY to CAD 5.2842 CAD to CNY
CNY KYD 0.1205 CNY to KYD 8.2978 KYD to CNY
CNY CLP 112.3287 CNY to CLP 0.0089 CLP to CNY
CNY COP 484.5706 CNY to COP 0.0021 COP to CNY
CNY CRC 81.6731 CNY to CRC 0.0122 CRC to CNY
CNY DOP 7.6921 CNY to DOP 0.13 DOP to CNY
CNY SVC 1.2654 CNY to SVC 0.7903 SVC to CNY
CNY FJD 0.3129 CNY to FJD 3.1956 FJD to CNY
CNY HNL 3.5615 CNY to HNL 0.2808 HNL to CNY
CNY JMD 20.1026 CNY to JMD 0.0497 JMD to CNY
CNY MXN 2.7042 CNY to MXN 0.3698 MXN to CNY
CNY ANG 0.2401 CNY to ANG 4.1656 ANG to CNY
CNY PYG 943.9195 CNY to PYG 0.0011 PYG to CNY
CNY PEN 0.4799 CNY to PEN 2.0837 PEN to CNY
CNY TTD 0.9779 CNY to TTD 1.0226 TTD to CNY
CNY USD 0.1442 CNY to USD 6.9367 USD to CNY
CNY UYU 5.4102 CNY to UYU 0.1848 UYU to CNY
CNY VEF 1.4398 CNY to VEF 0.6945 VEF to CNY
Updated: 2020-01-24
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CNY AUD 0.2107 CNY to AUD 4.7471 AUD to CNY
CNY BDT 12.2773 CNY to BDT 0.0815 BDT to CNY
CNY BND 0.1951 CNY to BND 5.1252 BND to CNY
CNY CNY 1 CNY to CNY 1 CNY to CNY
CNY INR 10.2726 CNY to INR 0.0973 INR to CNY
CNY IDR 1957.7464 CNY to IDR 0.0005 IDR to CNY
CNY JPY 15.7911 CNY to JPY 0.0633 JPY to CNY
CNY MYR 0.5857 CNY to MYR 1.7075 MYR to CNY
CNY MVR 2.2273 CNY to MVR 0.449 MVR to CNY
CNY NPR 16.4799 CNY to NPR 0.0607 NPR to CNY
CNY NZD 0.2179 CNY to NZD 4.5887 NZD to CNY
CNY PKR 22.3759 CNY to PKR 0.0447 PKR to CNY
CNY PGK 0.4992 CNY to PGK 2.0032 PGK to CNY
CNY PHP 7.3324 CNY to PHP 0.1364 PHP to CNY
CNY SCR 1.9748 CNY to SCR 0.5064 SCR to CNY
CNY SGD 0.1946 CNY to SGD 5.1391 SGD to CNY
CNY KRW 168.3855 CNY to KRW 0.0059 KRW to CNY
CNY LKR 26.2517 CNY to LKR 0.0381 LKR to CNY
CNY TWD 4.3252 CNY to TWD 0.2312 TWD to CNY
CNY THB 4.396 CNY to THB 0.2275 THB to CNY
Updated: 2020-01-24
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CNY BHD 0.0543 CNY to BHD 18.3999 BHD to CNY
CNY EGP 2.2733 CNY to EGP 0.4399 EGP to CNY
CNY HKD 1.1205 CNY to HKD 0.8925 HKD to CNY
CNY ILS 0.4981 CNY to ILS 2.0075 ILS to CNY
CNY JOD 0.1022 CNY to JOD 9.7836 JOD to CNY
CNY KWD 0.0438 CNY to KWD 22.8354 KWD to CNY
CNY LBP 218.6891 CNY to LBP 0.0046 LBP to CNY
CNY OMR 0.0554 CNY to OMR 18.0426 OMR to CNY
CNY QAR 0.5249 CNY to QAR 1.9052 QAR to CNY
CNY SAR 0.5408 CNY to SAR 1.8491 SAR to CNY
CNY AED 0.5295 CNY to AED 1.8886 AED to CNY
CNY YER 36.0907 CNY to YER 0.0277 YER to CNY
Updated: 2020-01-24
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CNY DZD 17.264 CNY to DZD 0.0579 DZD to CNY
CNY KES 14.5372 CNY to KES 0.0688 KES to CNY
CNY MUR 5.2965 CNY to MUR 0.1888 MUR to CNY
CNY MAD 1.3907 CNY to MAD 0.719 MAD to CNY
CNY NAD 2.0756 CNY to NAD 0.4818 NAD to CNY
CNY NIO 4.8787 CNY to NIO 0.205 NIO to CNY
CNY NGN 52.1141 CNY to NGN 0.0192 NGN to CNY
CNY SLL 1400.1596 CNY to SLL 0.0007 SLL to CNY
CNY ZAR 2.0722 CNY to ZAR 0.4826 ZAR to CNY
CNY TZS 332.3765 CNY to TZS 0.003 TZS to CNY
CNY TND 0.4071 CNY to TND 2.4566 TND to CNY
CNY UGX 531.9041 CNY to UGX 0.0019 UGX to CNY
CNY XOF 85.5351 CNY to XOF 0.0117 XOF to CNY
CNY ZMK 1297.6207 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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