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 ?|
|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.