The Chinese Yuan
The Yuan also known as the RENMINBI is an official currency of the People's Republic of China. Note that Yuan is the basic unit of Chinese currency, the Renminbi.
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And Yuan is the name of the currency that is internationally used.
It is issued by the People's Bank of China, which is the Monetary Authority of China.
The official symbol or sign of Yuan is ¥ while the code is CNY.
Yuan is of bank notes and coins. The bank notes include;
¥1, ¥5, ¥10, ¥20, ¥50, ¥100. Also in the notes denomination are; ¥0.1, ¥0.5 which are rarely used.
Coins denomination of Yuan are; ¥0.1, ¥0.5, ¥1 which are frequently used. But ¥0.01, ¥0.02, ¥0.05 are rarely used.
(That is to say that the coins ranges from 1 fen to 1 renminbi).
Features on Some Banknotes
Some Banknotes contains image of communist leaders such as Mao Zedong who was a Leader of Chinese's communist revolution. His likeness is featured on several note. But the lower denominations often portray images of people in the land dressed in traditional attire. While the reverse side of most Chinese money come with images of historic buildings and the country's various landscape. For example, 10 renminbi has on the reverse side a view on the famous three Gorges (the Qutang Gorge, the Wuxia Gorge and the Xiling Gorge) and the Yangtze River.
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Since they were many currency circulation in China during the Republic of China era, the People's Bank of China issued a unify currency which is called the Renminbi (people's currency). But in Chinese, Yuan means a 'round object' or a 'round coins'. This is because in Qing dynasty the Yuan was a round silver coin.
Pronouncing Yuan
But how is Yuan pronounced? Yuan is often pronounced mistakenly as 'you-win' or you-wen. But the correct pronunciation is You-wuhn.
The difficulty of pronouncing Yuan is that 'a' in Chinese does not have a specific correspondent in English language, thus even the transcription of Yuan as You-wuhn is close but not perfect. This is because the 'a' in Yuan is pronounced with the sound that is midway between an /a/ and /e/ sounds which is closely approximated to a /uh/ sound.
Exchange Rate of Yuan
Chinese Yuan exchange to some key currencies in the world 🌎 are:
1 Yuan to US dollar = | 0.1381710 |
1 Yuan to British Pound Sterling = | 0.1038918 |
1 Yuan to Euro = | 0.1228427 |
1 Yuan to Naira = | 221.95838 |
Of course the exchange rate keeps fluctuating steadily at all time.
That being said, imagine how much you will have in Naira if you currently have about ¥5000.
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