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The currency abbreviation for the China yuan renminbi CNYthe general term for the currency of the People's Republic of China PRC. Renminbi is issued by the People's Bank of China, which is controlled by the PRC.

The yuan is issued in banknote bills multiples of one, five, 10, 20, 50 and The Chinese definition of renminbi is "people's currency". There have been several series of renminbi issued since the s, each of which has its own banknotes and coins; exchanges between different series was allowed at specified exchange rates.

The fourth series of renminbi is still legal tender today, with the prior series having been phased out.

It is not a free-floating currency system; it is managed by the PRC through a floating exchange rate. Cny fx options, it was pegged directly to the U.

The renminbi and its management by the People's Bank figures to play an important role in the global economy during the 21st Century, as China is the most populous nation in the world and is cny fx options beginning to solidify its economic infrastructure. Dictionary Term Should i buy vjet stock The Day.

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