Indian Rupee

Indian Rupee

The Indian rupee (sign: ₹; code: INR) is the official currency of the Republic of India. The rupee is subdivided into 100 paise (singular paisa), though as of 2018, coins of denomination of 50 paise or half rupee is the lowest value in use. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The rupee is named after the silver coin, rupiya, first issued by Sultan Sher Shah Suri in the 16th century and later continued by the Mughal Empire. In 2010, a new rupee symbol '₹', was officially adopted. It was derived from the combination of the Devanagari consonant "र" (ra) and the Latin capital letter "R" without its vertical bar (similar to the R rotunda). The parallel lines at the top (with white space between them) are said to make an allusion to the tricolour Indian flag, and also depict an equality sign that symbolises the nation's desire to reduce economic disparity. The first series of coins with the new rupee symbol started in circulation on 8 July 2011. On 8 November 2016 the Government of India announced the demonetisation of ₹500 and ₹1000 banknotes with effect from midnight of the same day, making these notes invalid. A newly redesigned series of ₹500 banknote, in addition to a new denomination of ₹2000 banknote is in circulation since 10 November 2016. The new redesigned series is also expected to be enlarged with banknotes in the denominations of ₹1000, ₹100 and ₹50 in the coming months.On 25 August 2017, a new denomination of ₹200 banknote was added to Indian currency to fill the gap of notes due to high demand for this note after demonetisation.In July 2018, the Reserve Bank Of India released the ₹100 banknote.

Chinese Yuan Renminbi

Chinese Yuan Renminbi

The renminbi (Ab.: RMB; simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally: "people's currency"; sign: 元; code: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where "Chinese yuan" is widely used to refer to the renminbi. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority of China.Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the American Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th by 2015.On 1 October 2016, the RMB became the first emerging market currency to be included in the IMF's special drawing rights basket, the basket of currencies used by the IMF (reserve currency).

10 Indian Rupee to Chinese Yuan Renminbi exchange rates chart

10 INR to CNY exchange rates graph
10 INR to CNY Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

10 INR to CNY exchange rates table

Exchange INR to CNY
10 Indian Rupee = 0.956 Chinese Yuan Renminbi
20 Indian Rupee = 1.912 Chinese Yuan Renminbi
50 Indian Rupee = 4.781 Chinese Yuan Renminbi
100 Indian Rupee = 9.562 Chinese Yuan Renminbi
Exchange Indian Rupee to Chinese Yuan Renminbi
10 Indian Rupee to Chinese Yuan Renminbi Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

Best INR/CNY rate at Bank of China in Shanghai

10 INR to CNY exchange rates at Bank of China in Shanghai
10 Indian Rupee = 0.903 Chinese Yuan Renminbi
Bank of China
Bank of China

Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing China’s financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community, despite...

Best INR/CNY rate at Weizmann Forex in New Delhi

10 INR to CNY exchange rates at Weizmann Forex in New Delhi
10 Indian Rupee = 0.891 Chinese Yuan Renminbi
Weizmann Forex
Weizmann Forex

The Weizmann Group comprises these key enterprises: Weizmann Forex Ltd. – Foreign Exchange, Remittance, Insurance, Tours, Travel. Weizmann Ltd. – Textile Processing and Exports. For more information please visit www.weizmann.co.in Weizmann International Ltd. – Textile Exports. For more information please visit www.weizmann.co.in Karma Energy Ltd. – Development of Renewable Energy Projects, mainly Wind and Small Hydro. For more information please visit www.karmaenergy.co Greenweiz...

Best INR/CNY rate at SF Forex in Chennai

10 INR to CNY exchange rates at SF Forex in Chennai
10 Indian Rupee = 1.053 Chinese Yuan Renminbi
SF Forex
SF Forex

Profile The business of Sugal Finance Ltd., has its genesis in a Sole Proprietorship from by the name "Sugal Finance", established in the year 1989. On 19.02.1990. the Company was incorporated in the name of Sugal Finance Credit and Investment Private Ltd., on 17.03.1993, the name of the Company was changed to Sugal Finance Private Ltd., on 11.05.1993, the Company was converted from Private Limited to a Public Limited Company, and on 07.10.2003 the Company was converted from Public Limited to...

10 INR to CNY exchange rates news

Indian rupee climbs to hit 3-month high

Rising for the fourth straight day, the rupee climbed to a three month high of 69.64 against the US dollar in early trade Friday. Forex traders said, increased selling of the American…

indicative neutral
In a rebuff to U.S., India, Iran agree on rupee payment mechanism for oil trade

TEHRAN - In a significant development that is likely to boost trade ties between India and Iran, the two regional allies have reached an agreement to switch to rupee payment mechanism to pay for Iranian crude imports.

indicative negative
Rupee seen weakening to 75 against dollar by December 2019 | mydigitalfc

Fitch Ratings on Thursday projected rupee to fall to 75 to a dollar by end of 2019, on widening of current account deficit and tighter global financing. The Indian rupee is currently trading at a two-week low level, hovering around 71 to a US dollar. In its global economic outlook, Fitch said it expects inflation to edge up mildly in the coming months, on normalising food prices and higher import prices stemming from the depreciation of the rupee.

conditional negative
Indian rupee falls 26 paise to 70.75 per US dollar in early trade

The rupee depreciated by 26 paise to 70.75 against the US dollar in early trade Wednesday at the interbank foreign exchange, amid strengthening of the US dollar and foreign fund outflows.

conditional negative
Tesla says cuts price for Model X, S in China

BEIJING/SHANGHAI (Reuters) - Tesla Inc is...

conditional neutral

10 INR to CNY currency converter