Renmibi Vs Yuan - What Is The Difference

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Author	Replies: 6 / Views: 2,551
John Paul Valued Member United States 232 Posts	Posted 03/30/2010 8:37 pm Hello, When I read about the currency of the People's Republic of China, sometimes it is called the "Yuan" and sometimes the "Renmibi". The coins I have say "Yuan" on them. What is the difference? Are these just synonyms or is there some subtle difference? Thanks, John Paul Report this Post to the Staff

fcrazo Pillar of the Community United States 651 Posts	Posted 03/30/2010 9:14 pm Both are valued the same. The big but is that the RMB is for domestic and is the formal unit. Renmibi translates to "people's money". The Yuan is for western convertible and its word translation is for "world dollar". Scary "world dollar". Report this Post to the Staff
wd1040 Pillar of the Community United States 3098 Posts	Posted 03/30/2010 10:05 pm Not exactly. Yuan is simply the denomination, while RMB is the proper name. It's like the different between calling it the United States Dollar (rather than Aussie, Canadian, etc) rather than just a "dollar." The RMB and Yuan are the same thing. The last time convertible foreign exchange notes were issued was in 1990 or 1991. RMB or Ren Min Bi literally means "people's money," yes, but Yuan simply means "round." Report this Post to the Staff
Sap Moderator Australia 16806 Posts	Posted 03/31/2010 01:10 am Correct. "Yuan" can mean "dollar", or simply "unit". It is also the name (in Chinese) of the Taiwan dollar, as well as the old Republic dollar; calling it the "Renmimbi yuan" distinguishes it from the other currencies that could be called "yuan". Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis Report this Post to the Staff
fcrazo Pillar of the Community United States 651 Posts	Posted 03/31/2010 4:50 pm still a group to worry about. Report this Post to the Staff
John Paul Valued Member United States 232 Posts	Posted 03/31/2010 8:25 pm Thanks for the explanation, that clears it up. John Paul Report this Post to the Staff
weinidaxiong New Member China 29 Posts	Posted 05/23/2010 06:16 am 1 yuan(dollar)=10jiao(dime); 1 jiao=10 fen(cent) RMB is name of PROC currency,include yuan\jiao\fen Report this Post to the Staff
	Replies: 6 / Views: 2,551

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