In this regard, it is essential to know that in ancient times China had no monetary system. Origins of the Chinese Coinsīefore talking about the Renmimbi and in general about today’s Chinese currency, it is essential to retrace what has been the “path” of the Chinese economy up to the present day. The Chinese currency through millennia of history. Also in this case, the Chinese coin or currency if you like, is not exempt from this fascinating past. In order to better understand the characteristics of the Chinese coin, it is necessary to retrace its history.Īs we all know, the oriental world is able to hide charm and mystery around its legends and traditions. In fact, according to the Unicode coding system, this symbol would identify the Japanese currency Yen. This symbol is an indication of the price even if it is not recognized in a completely official way. This indication is a clear example of how the Chinese language has a very strong impact on the name of what is also the official currency.Īs for the symbols, in addition to those already seen, very often shops use a Y with two bars on top. Yuan in the popular Chinese language means “round” or alternatively “round coin”. The biggest one is the 100 yuan banknote. One jiao is subdivided in 10 fen which are the smallest cut and are equivalent to practically cents. The basic unit of the Chinese currency is the yuan, which in turn is divided into 10 jiao. Now, the official abbreviation is CNY, while the commonly used abbreviation is RMB.
The Chinese currency is called Renmimbi which literally means “currency of the people” and is the actual currency in use in the Republic of China. On this page we will talk about the Chinese coins but first let’s make a brief introduction. Coins Online Auction: How does it work?.
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