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).

Emirati Dirham

Emirati Dirham

The United Arab Emirates dirham (Arabic: درهم‎, sign: د.إ; code: AED), also known as simply the Emirati dirham, is the currency of the United Arab Emirates. The term dirham is officially abbreviated "AED", while unofficial abbreviations include "DH" or "Dhs.". The dirham is subdivided into 100 fils (فلس).

1 Chinese Yuan Renminbi to Emirati Dirham exchange rates chart

1 CNY to AED exchange rates graph
1 CNY to AED 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.

1 CNY to AED exchange rates table

Exchange CNY to AED
1 Chinese Yuan Renminbi = 0.534 Emirati Dirham
2 Chinese Yuan Renminbi = 1.068 Emirati Dirham
5 Chinese Yuan Renminbi = 2.669 Emirati Dirham
10 Chinese Yuan Renminbi = 5.338 Emirati Dirham
Exchange Chinese Yuan Renminbi to Emirati Dirham
1 Chinese Yuan Renminbi to Emirati Dirham 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 CNY/AED rate at Bank of China in Shanghai

1 CNY to AED exchange rates at Bank of China in Shanghai
1 Chinese Yuan Renminbi = 0.517 Emirati Dirham
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 CNY/AED rate at RAKBANK in Dubai

1 CNY to AED exchange rates at RAKBANK in Dubai
1 Chinese Yuan Renminbi = 0.523 Emirati Dirham
RAKBANK
RAKBANK

RAKBANK is a retail and business bank in the UAE with assets of AED 34.5 billion at the close of the first half of 2014.[1] The Bank provides conventional and Islamic retail, small business, and commercial banking services through a network of thirty nine branches and 293 ATMs in the UAE as well as its Telephone, Online and Mobile Banking channels. According to The Banker's Top 1000 Arab Bank Rankings in 2014 (published by FT Financial Publishing), RAKBANK is the 1st in the UAE by Return On...

1 CNY to AED exchange rates news

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subjunctive positive
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1 CNY to AED currency converter