RMB - what is it? Almost every person who sees this letter designation faces such a question.
RMB. Currency
Due to financial illiteracy in Russia, few people know what these letters mean. In turn, most people who understand the financial sector are well aware of the meaning of RMB - that it is the letter designation of the Chinese national currency, the currency unit of the PRC. It stands for "people's money." RMB is a currency that is on the list of major world reserve currencies, including the US dollar, euro, British pound, Japanese yen and Swiss franc.
The Chinese yuan also has a standard world designation, which is represented in the form of the letter designation CNY.
Description
Yuan has a double division. It consists of ten jiao, which are divided into ten more fans. Chinese money is issued by the People's Bank of China.
In China, paper banknotes are used, the face value of which was originally one, two and five jiao, as well as one, two, five, ten, fifty and one hundred yuan. To date, only denominations of five to one hundred yuan have remained in use.
On the front side of each banknote is a portrait of the great leader of China, Mao Zedong. On the reverse side, various drawings are depicted on banknotes of different denominations. On a five-yuan note is Taishan Mountain, on ten yuan is the Yangtze River, and on twenty is the Guilin landscape. On a fifty-yuan-denominated paper banknote is an image of the Potala Palace, and on a hundred - the People's Palace of Congresses in Beijing.
Exchange operations. Course
To convert RMB to rubles, you just need to find out the current rate of the Chinese yuan. Today it is approximately 8.2 Russian rubles. Before you do this, you need to understand that the exchange rate is constantly changing, since the foreign exchange market is unstable. When you learn this, you can calculate the course, but be prepared for the fact that at any moment it can change. So, if you translate RMB into rubles, you get about 0.12 ¥.
If you translate RMB into American dollars, you get about 6.9 yuan per one US dollar, respectively, one yuan will cost about $ 0.14. For one euro in 2017, about seven and a half Chinese yuan is given, that is, approximately 0.13 euro for one yuan. One pound is valued at almost 9 yuan, which is 0.11 pounds per yuan.
Those who are going to visit China and are unfamiliar with the term RMB, what it is, but faced with it, can calm down. Due to the close trade and economic ties of the Russian Federation with the People's Republic of China and the large flow of Russian tourists to China and vice versa, there are no problems with currency exchange. Both in Russia and China, one can easily exchange rubles for the yuan and vice versa in almost any bank or exchange office.
The commission for such operations, as a rule, is charged small or not at all. Russian rubles in China is one of the most common foreign currency units, along with the American dollar, euro and Japanese yen.
Conclusion
Most often, the Chinese yuan is designated as CNY, but for ease of designation as the world reserve currency, it was decided to introduce another letter designation - RMB. That this is more convenient than using the same symbolism, it became clear almost immediately after its introduction.
Before you go to any country, it is important to learn about it as much as possible. The financial aspect is one of the most important. Despite the fact that knowledge of the letter designation RMB or CNY can hardly be useful to a tourist in practice, for the general development this all needs to be known. In addition, this will allow you to better get acquainted with the financial system of China and its national currency.
A serious approach to such a specific issue may turn out to be useful, therefore, enough attention should be paid to the financial and monetary structure of the countries to which you plan to travel.