CNYChinese YuanChinese Yuan (CNY)
The Chinese yuan is the unit used to express amounts in China's renminbi currency system. The People's Bank of China is the country's central bank, and the ISO code CNY identifies onshore renminbi amounts in international data. The terms renminbi and yuan describe the currency and its unit in different contexts; using CNY makes conversion records unambiguous. One yuan is divided into 10 jiao or 100 fen.
- ISO code
- CNY
- Symbol
- CNY
- Region
- Asia Pacific
- Currency type
- Fiat currency
- Exchange system
- The People's Bank of China is the central bank and manages a floating exchange-rate regime with reference to a basket of currencies.
- Last reviewed
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Quick facts
CNY at a glance
Currency profile
How CNY works
The Chinese yuan is the unit used to express amounts in China's renminbi currency system. The People's Bank of China is the country's central bank, and the ISO code CNY identifies onshore renminbi amounts in international data. The terms renminbi and yuan describe the currency and its unit in different contexts; using CNY makes conversion records unambiguous. One yuan is divided into 10 jiao or 100 fen.
CNY conversions are used for trade, sourcing, travel, study and cross-border price comparison. China's exchange-rate framework is managed, so a general reference rate should not be treated as a promise that a particular payment route or settlement method is available. CurrencyHub shows the provider's dated reference value and preserves the conversion direction. Financial institutions and payment providers may apply their own compliance requirements, timing and customer pricing.
- Renminbi is the currency name and yuan is its principal unit; CNY is the ISO identifier used for onshore reference data.
- The exchange-rate framework is managed rather than described as a simple fixed peg.
Context
Why this currency matters
CNY matters because China is a central participant in global manufacturing and trade. Yuan exchange rates are frequently compared with USD, EUR, JPY and other regional currencies for commercial planning. Users may also encounter CNH in offshore market contexts, but CurrencyHub labels this profile CNY and does not treat the codes as interchangeable without supporting data. Clear naming helps prevent an international quotation from being mistaken for a specific settlement route.
Monetary framework
Exchange arrangement
The People's Bank of China is the central bank and manages a floating exchange-rate regime with reference to a basket of currencies.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for CNY
People's Bank and first renminbi
The People's Bank of China was established and the first renminbi series was issued.
People's Bank of China - currency historyManaged floating framework adopted
China moved to a managed floating regime based on market supply and demand with reference to a currency basket.
People's Bank of China - renminbi exchange-rate frameworkRenminbi joined the SDR basket
The IMF added the renminbi to the Special Drawing Rights valuation basket.
International Monetary Fund - SDR valuation
Usage and economy
How CNY is used
- Domestic prices, accounts and payments in China.
- Trade, sourcing and regional currency comparison.
Country currency guides
Banknotes and coins
CNY currency units
The People's Bank of China documents the renminbi banknote series introduced since 1948.
The People's Bank of China documents the coin issues used within the renminbi system.
One Chinese Yuan unit is recorded with 2 decimal places and uses Fen as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
Currency topics
FAQ
CNY questions
Is CNY the same as RMB?
CNY is the ISO currency code for the renminbi, while RMB is a common abbreviation of the currency name. Yuan is the principal unit.
Is CNY fixed to the U.S. dollar?
No simple one-to-one peg describes the current framework. The PBC describes a managed floating regime with reference to a basket of currencies.
Why can CNY and CNH appear separately?
CNY identifies onshore renminbi reference data, while CNH is commonly used in offshore-market contexts; they should not be silently treated as the same data series.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.