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Chinese Yuan (CNY) Exchange Rates on 22nd May 2024 (22/05/2024)

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Exchange rates for Chinese Yuan (CNY)

Updated: 2024-05-22
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY CNY GBP GBP 0.1088 CNY to GBP 9.1944 GBP to CNY
CNY CNY BGN BGN 0.249 CNY to BGN 4.0168 BGN to CNY
CNY CNY HRK HRK 0.9645 CNY to HRK 1.0368 HRK to CNY
CNY CNY CZK CZK 3.1462 CNY to CZK 0.3178 CZK to CNY
CNY CNY DKK DKK 0.9498 CNY to DKK 1.0529 DKK to CNY
CNY CNY HUF HUF 49.1397 CNY to HUF 0.0204 HUF to CNY
CNY CNY KZT KZT 61.335 CNY to KZT 0.0163 KZT to CNY
CNY CNY LVL LVL 0.0836 CNY to LVL 11.9633 LVL to CNY
CNY CNY MKD MKD 7.8391 CNY to MKD 0.1276 MKD to CNY
CNY CNY MDL MDL 2.442 CNY to MDL 0.4095 MDL to CNY
CNY CNY NOK NOK 1.4819 CNY to NOK 0.6748 NOK to CNY
CNY CNY PLN PLN 0.5416 CNY to PLN 1.8464 PLN to CNY
CNY CNY RON RON 0.6329 CNY to RON 1.58 RON to CNY
CNY CNY RUB RUB 12.4784 CNY to RUB 0.0801 RUB to CNY
CNY CNY SEK SEK 1.4786 CNY to SEK 0.6763 SEK to CNY
CNY CNY CHF CHF 0.1259 CNY to CHF 7.9443 CHF to CNY
CNY CNY TRY TRY 4.452 CNY to TRY 0.2246 TRY to CNY
CNY CNY UAH UAH 5.4831 CNY to UAH 0.1824 UAH to CNY
Updated: 2024-05-22
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY CNY ARS ARS 122.8153 CNY to ARS 0.0081 ARS to CNY
CNY CNY BOB BOB 0.9557 CNY to BOB 1.0463 BOB to CNY
CNY CNY BRL BRL 0.7054 CNY to BRL 1.4176 BRL to CNY
CNY CNY CAD CAD 0.1885 CNY to CAD 5.3054 CAD to CNY
CNY CNY KYD KYD 0.1153 CNY to KYD 8.6764 KYD to CNY
CNY CNY CLP CLP 123.0834 CNY to CLP 0.0081 CLP to CNY
CNY CNY COP COP 528.8011 CNY to COP 0.0019 COP to CNY
CNY CNY CRC CRC 70.7894 CNY to CRC 0.0141 CRC to CNY
CNY CNY DOP DOP 8.0917 CNY to DOP 0.1236 DOP to CNY
CNY CNY SVC SVC 1.2102 CNY to SVC 0.8263 SVC to CNY
CNY CNY FJD FJD 0.3122 CNY to FJD 3.2028 FJD to CNY
CNY CNY HNL HNL 3.4184 CNY to HNL 0.2925 HNL to CNY
CNY CNY JMD JMD 21.6097 CNY to JMD 0.0463 JMD to CNY
CNY CNY MXN MXN 2.2892 CNY to MXN 0.4368 MXN to CNY
CNY CNY ANG ANG 0.2493 CNY to ANG 4.0118 ANG to CNY
CNY CNY PYG PYG 1035.3834 CNY to PYG 0.001 PYG to CNY
CNY CNY PEN PEN 0.517 CNY to PEN 1.9343 PEN to CNY
CNY CNY TTD TTD 0.9389 CNY to TTD 1.065 TTD to CNY
CNY CNY USD USD 0.1382 CNY to USD 7.2365 USD to CNY
CNY CNY UYU UYU 5.3652 CNY to UYU 0.1864 UYU to CNY
CNY CNY VEF VEF 500620.4639 CNY to VEF 0 VEF to CNY
Updated: 2024-05-22
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY CNY AUD AUD 0.2076 CNY to AUD 4.8163 AUD to CNY
CNY CNY BDT BDT 16.1961 CNY to BDT 0.0617 BDT to CNY
CNY CNY BND BND 0.1861 CNY to BND 5.372 BND to CNY
CNY CNY INR INR 11.5131 CNY to INR 0.0869 INR to CNY
CNY CNY IDR IDR 2213.66 CNY to IDR 0.0005 IDR to CNY
CNY CNY JPY JPY 21.6236 CNY to JPY 0.0462 JPY to CNY
CNY CNY MYR MYR 0.6483 CNY to MYR 1.5425 MYR to CNY
CNY CNY MVR MVR 2.135 CNY to MVR 0.4684 MVR to CNY
CNY CNY NPR NPR 18.431 CNY to NPR 0.0543 NPR to CNY
CNY CNY NZD NZD 0.2266 CNY to NZD 4.4124 NZD to CNY
CNY CNY PKR PKR 38.4903 CNY to PKR 0.026 PKR to CNY
CNY CNY PGK PGK 0.5373 CNY to PGK 1.8612 PGK to CNY
CNY CNY PHP PHP 8.0316 CNY to PHP 0.1245 PHP to CNY
CNY CNY SCR SCR 1.8821 CNY to SCR 0.5313 SCR to CNY
CNY CNY SGD SGD 0.1863 CNY to SGD 5.3679 SGD to CNY
CNY CNY KRW KRW 188.7173 CNY to KRW 0.0053 KRW to CNY
CNY CNY LKR LKR 41.4442 CNY to LKR 0.0241 LKR to CNY
CNY CNY TWD TWD 4.4663 CNY to TWD 0.2239 TWD to CNY
CNY CNY THB THB 5.0156 CNY to THB 0.1994 THB to CNY
Updated: 2024-05-22
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY CNY BHD BHD 0.0521 CNY to BHD 19.2003 BHD to CNY
CNY CNY EGP EGP 6.4443 CNY to EGP 0.1552 EGP to CNY
CNY CNY HKD HKD 1.0779 CNY to HKD 0.9278 HKD to CNY
CNY CNY ILS ILS 0.5101 CNY to ILS 1.9604 ILS to CNY
CNY CNY JOD JOD 0.098 CNY to JOD 10.2081 JOD to CNY
CNY CNY KWD KWD 0.0424 CNY to KWD 23.574 KWD to CNY
CNY CNY LBP LBP 12386.3076 CNY to LBP 0.0001 LBP to CNY
CNY CNY OMR OMR 0.0532 CNY to OMR 18.8013 OMR to CNY
CNY CNY QAR QAR 0.5032 CNY to QAR 1.9874 QAR to CNY
CNY CNY SAR SAR 0.5183 CNY to SAR 1.9295 SAR to CNY
CNY CNY AED AED 0.5076 CNY to AED 1.9702 AED to CNY
CNY CNY YER YER 34.5366 CNY to YER 0.029 YER to CNY
Updated: 2024-05-22
Convert from Convert to 1 CNY Conversion in currency Conversion
CNY CNY DZD DZD 18.596 CNY to DZD 0.0538 DZD to CNY
CNY CNY KES KES 17.7015 CNY to KES 0.0565 KES to CNY
CNY CNY MUR MUR 6.3249 CNY to MUR 0.1581 MUR to CNY
CNY CNY MAD MAD 1.3704 CNY to MAD 0.7297 MAD to CNY
CNY CNY NAD NAD 2.5122 CNY to NAD 0.3981 NAD to CNY
CNY CNY NIO NIO 5.0904 CNY to NIO 0.1964 NIO to CNY
CNY CNY NGN NGN 211.7636 CNY to NGN 0.0047 NGN to CNY
CNY CNY SLL SLL 2897.743 CNY to SLL 0.0003 SLL to CNY
CNY CNY ZAR ZAR 2.5161 CNY to ZAR 0.3974 ZAR to CNY
CNY CNY TZS TZS 359.2432 CNY to TZS 0.0028 TZS to CNY
CNY CNY TND TND 0.4293 CNY to TND 2.3295 TND to CNY
CNY CNY UGX UGX 524.9409 CNY to UGX 0.0019 UGX to CNY
CNY CNY XOF XOF 83.4555 CNY to XOF 0.012 XOF to CNY
CNY CNY ZMK ZMK 1243.86 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
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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