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).

Swiss Franc

Swiss Franc

The franc (sign: Fr. or SFr.; German: Franken, French and Romansh: franc, Italian: franco; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins. The smaller denomination, a hundredth of a franc, is a Rappen (Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (rp.) in Romansh. The ISO code of the currency used by banks and financial institutions is CHF, although Fr. is also widely used by businesses and advertisers; some use SFr. for Swiss Franc and to a lesser extent Fr.sv. The Latinate "CH" stands for Confoederatio Helvetica. Given the different languages used in Switzerland, Latin is used for language-neutral inscriptions on its coins.

6 Chinese Yuan Renminbi to Swiss Franc exchange rates chart

6 CNY to CHF exchange rates graph
6 CNY to CHF 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.

6 CNY to CHF exchange rates table

Exchange CNY to CHF
6 Chinese Yuan Renminbi = 0.873 Swiss Franc
12 Chinese Yuan Renminbi = 1.746 Swiss Franc
30 Chinese Yuan Renminbi = 4.365 Swiss Franc
60 Chinese Yuan Renminbi = 8.730 Swiss Franc
Exchange Chinese Yuan Renminbi to Swiss Franc
6 Chinese Yuan Renminbi to Swiss Franc 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/CHF rate at Bank of China in Shanghai

6 CNY to CHF exchange rates at Bank of China in Shanghai
6 Chinese Yuan Renminbi = 0.854 Swiss Franc
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...

6 CNY to CHF exchange rates news

Tesla says cuts price for Model X, S in China

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

conditional neutral
Swiss Cryptocurrency Start-up Integrates Monero in ATMs
Swiss Cryptocurrency Start-up Integrates Monero in ATMs

Switzerland-based cryptocurrency start-up, Bity, has announced the integration of anonymous cryptocurrency monero (XMR) in its ATMs all around Switzerland.

conditional positive
Bibox: Three Main Topics Telling You the Opportunities in Digital Assets
Bibox: Three Main Topics Telling You the Opportunities in Digital Assets

On 29th November Bibox, the world top 10 digital asset trading platform, held its 2019 Digital Assets New Opportunity Summit in Singapore.

conditional positive

6 CNY to CHF currency converter