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).

Danish Krone

Danish Krone

The krone (Danish pronunciation: [ˈkʁoːnə]; plural: kroner; sign: kr.; code: DKK) is the official currency of Denmark, Greenland and the Faroe Islands, introduced on 1 January 1875. Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter in some contexts follows it. The currency is sometimes referred to as the Danish crown in English, since krone literally means crown. Historically, krone coins have been minted in Denmark since the 17th century. One krone is subdivided into 100 øre (Danish pronunciation: [ˈøːɐ]; singular and plural), the name øre possibly deriving from Latin aureus meaning "gold coin". Altogether there are eleven denominations of the krone, with the smallest being the 50 øre coin, which is valued at one half of a krone. Formerly there were more øre coins, but those were discontinued due to inflation. The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Adoption of the euro is favoured by some of the major political parties, however a 2000 referendum on joining the Eurozone was defeated with 53.2% voting to maintain the krone and 46.8% voting to join the Eurozone.

1 Chinese Yuan Renminbi to Danish Krone exchange rates chart

1 CNY to DKK exchange rates graph
1 CNY to DKK 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 DKK exchange rates table

Exchange CNY to DKK
1 Chinese Yuan Renminbi = 0.947 Danish Krone
2 Chinese Yuan Renminbi = 1.894 Danish Krone
5 Chinese Yuan Renminbi = 4.734 Danish Krone
10 Chinese Yuan Renminbi = 9.468 Danish Krone
Exchange Chinese Yuan Renminbi to Danish Krone
1 Chinese Yuan Renminbi to Danish Krone 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/DKK rate at Bank of China in Shanghai

1 CNY to DKK exchange rates at Bank of China in Shanghai
1 Chinese Yuan Renminbi = 0.946 Danish Krone
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...

1 CNY to DKK exchange rates news

METALS-Nickel drops for 3rd session to 11-mth low on strong dollar

Nickel prices on both the London and Shanghai exchanges fell on Monday to near 11-month lows due to pressure from a strong U.S. dollar and concerns over economic growth in China.

indicative positive
China reports new African swine fever outbreak in Anhui province
China reports new African swine fever outbreak in Anhui province

Outbreak infects 96 pigs on Anhui farm, killing 47; China has reported over 50 African swine fever cases since Aug; Pork producer Tangrenshen says.

indicative neutral
China's Ruyi, pretender to LVMH's throne, plots more "affordable luxury" deals
China's Ruyi, pretender to LVMH's throne, plots more "affordable luxury" deals

HONG KONG/BEIJING, Nov 12- China's acquisitive apparel firm Shandong Ruyi is targeting more global deals involving "affordable luxury" brands, under.

indicative positive
BRIEF-Beijing Qianjing Landscape Plans Share Private Placement To Fund Projects, Replenish Capital

Nov 11 (Reuters) - Beijing Qianjing Landscape Co Ltd : * SAYS IT AIMS TO RAISE UP TO 530 MILLION YUAN ($76.20 million) IN SHARE PRIVATE PLACEMENT TO FUND PROJECTS, REPLENISH CAPITAL Source text in Chinese: ...

indicative negative
Investors chew over Chinese firm's plan to pay bond interest in ham

SHANGHAI, Nov 9- A Chinese livestock company squeezed for cash has proposed to bondholders a plan to pay them some of the interest owed with ham and.

conditional positive
Major Curriencis up

Uniindia: Mumbai, Nov 05 (UNI) Following were the indicative currency rates<br />and travellers'' cheques buying and selling rates per unit.

indicative neutral
Apple acquired Spektral for live cutout video magic

It would appear as though Apple acquired a company by the name of Spektral at the tail end of the year 2017. This Danish group specialized in the isolation of

conditional neutral
Pound Danish Krone (GBP/DKK) Exchange Rate Strikes Six-Month High as Brexit Optimism Continues to Grow | Currency News UK

Pound Danish Krone (GBP/DKK) Exchange Rate Strikes Six-Month High as Brexit Optimism Continues to Grow | Currency News UK

conditional positive
USD, Euro down; Pound up
USD, Euro down; Pound up

Uniindia: Mumbai, Nov 1 (UNI) Following were the indicative currency rates and travellers'' cheques buying and selling rates per unit on Thursday.

indicative neutral

1 CNY to DKK currency converter