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).

Turkish Lira

Turkish Lira

The Turkish lira (Turkish: Türk lirası; sign: ₺; code: TRY; usually abbreviated as TL) is the currency of Turkey and the self-declared Turkish Republic of Northern Cyprus. The Turkish lira is subdivided into 100 kuruş.

1 Chinese Yuan Renminbi to Turkish Lira exchange rates chart

1 CNY to TRY exchange rates graph
1 CNY to TRY 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 TRY exchange rates table

Exchange CNY to TRY
1 Chinese Yuan Renminbi = 0.778 Turkish Lira
2 Chinese Yuan Renminbi = 1.555 Turkish Lira
5 Chinese Yuan Renminbi = 3.888 Turkish Lira
10 Chinese Yuan Renminbi = 7.776 Turkish Lira
Exchange Chinese Yuan Renminbi to Turkish Lira
1 Chinese Yuan Renminbi to Turkish Lira 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/TRY rate at Bank of China in Shanghai

1 CNY to TRY exchange rates at Bank of China in Shanghai
1 Chinese Yuan Renminbi = 0.689 Turkish Lira
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/TRY rate at Isbank in Istanbul

1 CNY to TRY exchange rates at Isbank in Istanbul
1 Chinese Yuan Renminbi = 0.732 Turkish Lira
Isbank
Isbank

Türkiye İş Bankası or simply İşbank is Turkey's largest bank. It was the first bank founded by the Turkish Republic.[4] İşbank was ranked 96th in a survey of "The World's Biggest 1000 Banks”.[5] It was ranked and 447 on the Forbes Global 2000 list for 2015.[6] It had a gross profit for 2015 of TRY 3.023 billion[2] and USD 6.8 billion in Tier I Capital, as defined by Basel’s Bank for International Settlements. İşBank's world headquarters in Levent, Istanbul The bank operates 1,354 branches...

1 CNY to TRY exchange rates news

Tesla says cuts price for Model X, S in China

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conditional neutral
Comment: Mitigating foreign exchange risk

Andy Scott, associate director of JCRA explains how to cope with currency swings

indicative positive
No new tax exemptions: Turkish Finance Minister - Latest News

Turkish Treasury and Finance Minister Berat Albayrak has signaled a simplification in tax code, saying that no further incentives or waivers are planned.

conditional neutral
U.S. prosecutor drops appeal to extend Turkish banker's sentence - Anadolu

USA-TURKEY/SECURITY (UPDATE 2, PIX):UPDATE 2-U.S. prosecutor drops appeal to extend Turkish banker's sentence - Anadolu

indicative neutral

1 CNY to TRY currency converter