One of the symbols of the country, as well as a sign of the strength of the state in economic terms, is its monetary unit. For the world community, each of the currencies has its own meaning and designation. The market economy of the whole world is tied to some major monetary units. It is about the US dollar, which largely determines the pricing policy, the euro, the basis of European markets. China and its currency are also breaking into the world economy quickly. Currency yuan has long been in the everyday life of this country.
Introduction of the modern yuan to use
The beginning of the existence of this currency can be traced back to the nineteenth century, but the yuan already defined its more modern status in 1948, when at the same time a monetary control body, the People’s Bank of China, was created, and a single monetary unit of the country was recognized.
Renminbi graphic symbol
But another stage in the development of Chinese money was the second monetary reform, in 1955, as a result of which its first graphic designation appeared. Yuan as a currency in this period acquired its symbol, relevant now. Not surprisingly, its designation was adopted in the form of the first Latin letter in the spelling of the name of this currency. In addition, parallel horizontal lines were added to the designation. Their goal was to create a distinctive effect from the Chinese character, which means "wreck, fork."
To determine the Chinese currency, use a fairly simple graphic designation. Yuan is depicted as follows: Ұ. It is one strip provided for by the current rules, but this is only theoretically. In all places where it becomes necessary to determine the currency, the yuan uses a symbol that is very similar to the Japanese yen, namely the same Latin letter, but with only two horizontal lines: ¥. Such a connection arose due to the fact that the names of Japanese and Korean currencies come from the original Chinese character, which was already mentioned and which means "ruin, fork." Also, this graphic nuance is explained by the settings in the software systems of computer technology. Simply put, the default is the Chinese font SimSun, where the character is represented with a single bar. In order to still print it as originally intended, you need to select the font MingLiu in the settings.
Features of using the graphic symbol of the renminbi
There is also another feature of the designation of the Chinese yuan. It is accepted that all currency signs indicate after the amount. But it is precisely the symbol of the yuan that is placed in front of it, which distinguishes it from the US dollar, euro and many other monetary units. An example of reflection can be writing the price of goods where they are indicated in this way: ¥ 34 if the purchase costs 34 yuan.
In addition to the graphic designation of the Chinese yuan, there is another option for determining the currency without its actual presence. To bring all world norms into uniform standards, there is an organization that is responsible for determining all international indicators in one system. The International Organization for Standardization, abbreviated and more recognizable by ISO, has also created a standard for designating monetary units of the world when conducting currency transactions. ISO 4217 defines a three-digit numeric currency code when buying or selling it in order to regulate global financial markets. The first two characters indicate the country where the issue of the currency occurs, the third character shows the name of the currency, basically the first letter. The international designation of the currency "yuan" looks like CNY, that is, CHINA YUAN.
Additional RMB lettering
The Chinese yuan is also known as the renminbi, which is more understandable for the Chinese as the "people's currency." His name also could not remain unmarked, so there is a different designation from CNY. Yuan is also written as RMB is from Renminbi. More often used is the first variant of letter reflection, since this sign of the yuan corresponds to the officially approved name of the currency. As for the second encoding, the decoding "people's money" and in the calculations is more used only in the Chinese economy.
Digital designation of RMB
For coding during foreign exchange operations, there is also a digital designation. It is customary to display the renminbi as a number, which is equal to 156. Information about this code is useful for bank employees, accountants, economists, all those who carry out transactions in this currency in operating programs. This is how currencies are displayed in digital analogues of documents. Just enter the code 156 - and immediately near the amount the currency name or letter designation of the Chinese renminbi will be displayed. Such writing helps to simplify the maintenance of financial documents and reduce possible errors when displaying monetary units of the world.
Universal symbol of world currencies
There are different currencies of the world, the designations of which are widely known. Each of them not only systematizes the entire money market, but also contributes to the efficient conduct of operations between enterprises of different countries, as well as the consolidation of economies. In addition to codes, symbols, signs of monetary units of specific states, there is also a symbol that is accepted as a universal sign to denote any currency. It is mainly used when a transaction is made in a rarely used currency unit or one that does not have its own designation. This graphic symbol looks like this: "¤". It first appeared in the world economy in 1972. At that time, they decided to use it to replace the familiar US dollar sign in the process of generating financial statements on a computer. It was originally planned that it was $ that could play the role of a universal symbol. That is why the Europeans used a different sign, as they were very opposed to the fact that the dollar with its designation will go to the forefront. In those days, in the first software systems, even the universal currency sign and dollar sign had the same encoding in ASCII. But after some time, nevertheless, for “¤” its code was entered in the Unicode code table.
Thus, it was decided to use "¤" as a universal sign of money. In order to determine and specify in which currency a particular transaction is carried out, it is necessary to carefully study the full text of the document, where the designation is used for all currencies, that is, writing the “¤” sign with a digital symbol means the sum of units of a certain currency equal to these numbers.
Instead of output
Signs are always and everywhere present in the life of any person. Money notations are not an exception. Each of them carries a semantic load. Chinese yuan was no exception, like all currencies in the world. Their designations have their own meaning, and also, as experts on the Feng Shui teachings popular in this country can say, the impact on the development of the entire economy of the state and its prosperity. The current full success of almost all sectors of China makes it clear that the currency designations were chosen correctly.