This is the latest exchange rate for the Yuan today which is the official currency of China. The currency is the Chinese Yuan with symbol code: CNY.
The CNY exchange rate is affected by economic conditions within China. Things such as interest rate changes, GDP and unemployment can affect the Yuan currency. Economic policies in China are set by the People’s Bank of China at regular meetings throughout the year.
|1 Yuan =||0.16 USD|
|1 Yuan =||0.13 EUR|
|1 Yuan =||0.11 GBP|
This table displays other common conversions of the Yuan in US Dollars.
|100 Chinese Yuan||15.91|
|500 Chinese Yuan||79.53|
|1000 Chinese Yuan||159.06|
About The Yuan
The Yuan is the primary monetary unit that is represented in China’s currency known as reminbi. While the Yuan is not China’s primary currency it is represented in the world as such. The yuan has been around since the late 19th century. It was widely circulated through China around the 1890s and was based off of the Mexican Peso which was present in the Philippines, Guam and various parts of Northern and Eastern China. The original yuan was based off of a silver coin.
During the first part of the 20th century the yuan was available in all of China. By 1917 the gold coins started to gout of favor and paper money was issued. Once the paper denominations were issued the yuan became the foundation of China’s currency.
In 1955 a civil war had broken out between the communists and the Nationalists. The communists had eventually won this conflict and they had to issue a new set of yuan notes that became the standard to the modern yuan denomination that is in use today. Since China has the second largest economy its yuan note is highly valued in the world.
The government of the Peoples Bank of China now controls the yuan, the policies which affect the exchange rates, and it controls the flow and rate of this form of currency. The denominations or notes for the yuan include 1, 5, 10, 20, 50 and 100. These notes are the 5th series of yuan currency that came into use in 1999. The coins are .01, .05 and 1.00. These coins are now the standard type for the 5th series of yuan.
Historical Yuan Exchange Rate Chart