Chinese Yuan (CNY)
The Chinese Yuan, or the CNY, is the currency of China. This Chinese currency is also known as the Renminbi (RMB), which translates as "the people's currency". First issued by the Chinese Communist Party's People's Bank of China in 1948 during a civil war, a new Yuan was introduced in 1955 to address the high inflation that ensued. Since then, the economy stabilized. China is Australia's largest trading partner, with the China Australia Free Trade Agreement (ChAFTA) of 2015 laying the foundation for the next phase of Australia's economic relationship with China. For this reason, exchanging money from AUD to CNY is extremely popular.
Trade agreement
The ChAFTA between Australia and China presents significant opportunities for Australia, with China being the largest export market for goods and services. FX Compare is a comparison website that can ensure you are getting the best Chinese Yuen exchange rate for your dollar. By comparing the banks and other providers listed on our site, you can choose the provider with the best exchange rate and lowest fees to transfer your money with. Whether you are completing a business deal, or buying into the cheap goods and services market, FX Compare can help sweeten up your decision.
FX Compare advantage
If you are looking to exchange your AUD to CNY, FX Compare can make sure you are getting the best exchange rate. Our safe and secure website uses added encryption security measures, so you can browse our easy-to-use interface with ease. We are a convenient place to check and compare foreign currency exchange rates between many banks and major providers, as well as their different levels of service and fees, to make sure you are getting the best deal on your next international money transfer.
Chinese Yuan Renminbi specifications
| Name: | Renminbi |
| Commonly referred as: | Yuan, Kuài, Mao |
| Major Unit: | Yuan, RMB |
| Symbol: | 元 |
| Minor Unit: | Fēn = 1/100 Yuan. Jiǎo = 1/10 Yuan |
| Symbol: | 分, 角 |
| Banknote denominations: | RMB 1, RMB 2, RMB 5, RMB 10, RMB 20, RMB 50, RMB 100 |
| Coin denominations: | RMB 0.1, RMB 0.5, RMB 1 |
| Central Bank: | People's Bank of China http://www.pbc.gov.cn |
| ISO 4217: | Code CNY, Number 156, Exponent 2 |
