Chinese Yuan (CNY) Exchange Rates on 21st February 2020 (21/02/2020)

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Exchange rates for Chinese Yuan (CNY)

Updated: 2020-02-21
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CNY GBP 0.1103 CNY to GBP 9.0676 GBP to CNY
CNY BGN 0.2576 CNY to BGN 3.8822 BGN to CNY
CNY HRK 0.9816 CNY to HRK 1.0187 HRK to CNY
CNY CZK 3.2996 CNY to CZK 0.3031 CZK to CNY
CNY DKK 0.9838 CNY to DKK 1.0165 DKK to CNY
CNY HUF 44.5798 CNY to HUF 0.0224 HUF to CNY
CNY KZT 53.4652 CNY to KZT 0.0187 KZT to CNY
CNY LVL 0.086 CNY to LVL 11.6296 LVL to CNY
CNY MKD 8.1127 CNY to MKD 0.1233 MKD to CNY
CNY MDL 2.5298 CNY to MDL 0.3953 MDL to CNY
CNY NOK 1.3263 CNY to NOK 0.754 NOK to CNY
CNY PLN 0.5636 CNY to PLN 1.7744 PLN to CNY
CNY RON 0.6316 CNY to RON 1.5832 RON to CNY
CNY RUB 9.1263 CNY to RUB 0.1096 RUB to CNY
CNY SEK 1.3958 CNY to SEK 0.7164 SEK to CNY
CNY CHF 0.1398 CNY to CHF 7.1534 CHF to CNY
CNY TRY 0.8685 CNY to TRY 1.1514 TRY to CNY
CNY UAH 3.48 CNY to UAH 0.2874 UAH to CNY
Updated: 2020-02-21
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CNY ARS 8.7817 CNY to ARS 0.1139 ARS to CNY
CNY BOB 0.9834 CNY to BOB 1.0169 BOB to CNY
CNY BRL 0.6246 CNY to BRL 1.601 BRL to CNY
CNY CAD 0.1883 CNY to CAD 5.3107 CAD to CNY
CNY KYD 0.1185 CNY to KYD 8.4379 KYD to CNY
CNY CLP 115.0593 CNY to CLP 0.0087 CLP to CNY
CNY COP 483.9502 CNY to COP 0.0021 COP to CNY
CNY CRC 80.7049 CNY to CRC 0.0124 CRC to CNY
CNY DOP 7.5941 CNY to DOP 0.1317 DOP to CNY
CNY SVC 1.2443 CNY to SVC 0.8037 SVC to CNY
CNY FJD 0.3153 CNY to FJD 3.1718 FJD to CNY
CNY HNL 3.5038 CNY to HNL 0.2854 HNL to CNY
CNY JMD 19.9542 CNY to JMD 0.0501 JMD to CNY
CNY MXN 2.6862 CNY to MXN 0.3723 MXN to CNY
CNY ANG 0.2546 CNY to ANG 3.9285 ANG to CNY
CNY PYG 929.133 CNY to PYG 0.0011 PYG to CNY
CNY PEN 0.481 CNY to PEN 2.079 PEN to CNY
CNY TTD 0.9616 CNY to TTD 1.04 TTD to CNY
CNY USD 0.1422 CNY to USD 7.0346 USD to CNY
CNY UYU 5.4131 CNY to UYU 0.1847 UYU to CNY
CNY VEF 1.4198 CNY to VEF 0.7043 VEF to CNY
Updated: 2020-02-21
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CNY AUD 0.2154 CNY to AUD 4.642 AUD to CNY
CNY BDT 12.0796 CNY to BDT 0.0828 BDT to CNY
CNY BND 0.1991 CNY to BND 5.0231 BND to CNY
CNY INR 10.2314 CNY to INR 0.0977 INR to CNY
CNY IDR 1968.2411 CNY to IDR 0.0005 IDR to CNY
CNY JPY 15.9194 CNY to JPY 0.0628 JPY to CNY
CNY MYR 0.5965 CNY to MYR 1.6763 MYR to CNY
CNY MVR 2.1878 CNY to MVR 0.4571 MVR to CNY
CNY NPR 16.2832 CNY to NPR 0.0614 NPR to CNY
CNY NZD 0.2253 CNY to NZD 4.4378 NZD to CNY
CNY PKR 21.9411 CNY to PKR 0.0456 PKR to CNY
CNY PGK 0.4848 CNY to PGK 2.0626 PGK to CNY
CNY PHP 7.2207 CNY to PHP 0.1385 PHP to CNY
CNY SCR 1.9481 CNY to SCR 0.5133 SCR to CNY
CNY SGD 0.1991 CNY to SGD 5.0218 SGD to CNY
CNY KRW 171.9096 CNY to KRW 0.0058 KRW to CNY
CNY LKR 25.828 CNY to LKR 0.0387 LKR to CNY
CNY TWD 4.3178 CNY to TWD 0.2316 TWD to CNY
CNY THB 4.4992 CNY to THB 0.2223 THB to CNY
Updated: 2020-02-21
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CNY BHD 0.0536 CNY to BHD 18.6597 BHD to CNY
CNY EGP 2.2123 CNY to EGP 0.452 EGP to CNY
CNY HKD 1.107 CNY to HKD 0.9034 HKD to CNY
CNY ILS 0.487 CNY to ILS 2.0536 ILS to CNY
CNY JOD 0.1008 CNY to JOD 9.922 JOD to CNY
CNY KWD 0.0436 CNY to KWD 22.9455 KWD to CNY
CNY LBP 215.0192 CNY to LBP 0.0047 LBP to CNY
CNY OMR 0.0547 CNY to OMR 18.2712 OMR to CNY
CNY QAR 0.5176 CNY to QAR 1.9321 QAR to CNY
CNY SAR 0.5332 CNY to SAR 1.8755 SAR to CNY
CNY AED 0.5222 CNY to AED 1.9151 AED to CNY
CNY YER 35.5884 CNY to YER 0.0281 YER to CNY
Updated: 2020-02-21
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CNY DZD 17.1939 CNY to DZD 0.0582 DZD to CNY
CNY KES 14.3917 CNY to KES 0.0695 KES to CNY
CNY MUR 5.3514 CNY to MUR 0.1869 MUR to CNY
CNY MAD 1.3851 CNY to MAD 0.722 MAD to CNY
CNY NAD 2.1565 CNY to NAD 0.4637 NAD to CNY
CNY NIO 4.7973 CNY to NIO 0.2085 NIO to CNY
CNY NGN 51.6717 CNY to NGN 0.0194 NGN to CNY
CNY SLL 1380.675 CNY to SLL 0.0007 SLL to CNY
CNY ZAR 2.148 CNY to ZAR 0.4655 ZAR to CNY
CNY TZS 328.5065 CNY to TZS 0.003 TZS to CNY
CNY TND 0.4083 CNY to TND 2.449 TND to CNY
CNY UGX 522.1808 CNY to UGX 0.0019 UGX to CNY
CNY XOF 86.3971 CNY to XOF 0.0116 XOF to CNY
CNY ZMK 1279.5564 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
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 Live Currency Converter for CNY

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