Difference between Chinese Yuan CNY and Renminbi RMB

What is the difference between Chinese Yuan CNY and Renminbi RMB ? Are both used as an official currency in China ? Or is it the same currency ?
posted on 24.08.2019 at 19:32
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BrantBrant
The words Chinese Yuan and Renminbi are related to the currency, that is used in China.

Renminbi - abbreviation RMB, is the official name of the Chinese currency. It can be translated as "the people's money" or "the people's currency".

Yuan - abbreviation CNY, is the name of a Unit of the Renminbi currency. Sometimes the Yuan is colloquially called as "Kuai".

In finance, the Chinese currency is often named Chinese yuan renminbi.
posted on 25.08.2019 at 12:53
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BenBen
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