Chinese currency and its significance for China

China today is one of the most powerful and strong states of the modern world.The constant growth of its economic performance and living standards of the population and the military-industrial complex for China is no longer a goal to be achieved, as part of the reality to which the population of the country for many decades of progress have become accustomed.The Chinese currency with the dynamic development of the whole country to this day is important, because it, first of all, organizing the economic system in the country, without which it will be apparent onset of chaos and lack of control for the state of any system.The Chinese currency is an integral part of the success of the country, of which China sought for many years of hard work.Her competent and precise relation to the currencies of other countries, the purchasing power of the domestic market and a stable exchange rate allowed unwavering in conjunction with other sectors of the Chinese economy and industriousness of its people to achieve

such enviable success.They are the result today is a considerable weight of China in world politics, a powerful army, advances in science and rapidly rising living standards of ordinary citizens.

Nuances monetary system

Today, the Chinese currency yuan has a proud name, which literally means "belonging to the money" rather than the entire currency of China is considered to be in the rest of the world.That is the American dollar in China, too, the renminbi, but with the prefix ERI, which, in turn, identifies the currency belonging to the US national title.In the same way the Chinese call and other currencies, combining sound consoles currency of a foreign state in the Chinese language with the domestic yuan.Native currency in China is called the yuan renminbi, which means literally "people's money."The Chinese currency RMB is designated in the international currency market is similar to the Japanese ¥ ene, but added a horizontal line, which, in turn, considerate man will help you find the difference in monetary units.Also on the foreign exchange market the yuan is CNY bank code and the code of the International Organization for Standardization ISO 4217.

value and China's currency Renminbi

Divide into smaller currencies at 10 jiao and 100 fen.The system of crushing the yuan less money on purchasing power is quite distinctive and a little confusing, but quite intuitive and easily understand the subject after a brief explanation.In this system, the main thing to keep the sequence in which 1 yuan is divided into 10 jiao, and one jiao 10 fen.That is 4,23 CNY is 4 yuan jiao 2 and 3 feni.Thus the Chinese restrict themselves to trade from the long decimal mention phrases related to the people's money with less purchasing power, he called them a short individual nouns.The Chinese currency at the same time, though stable, but does not have a sufficiently high rate to frequently used units of purchasing power equal to one-hundredth of the yuan.However feni still relevant in the distant Chinese provinces.Today CNY 1 5 can be exchanged for Russian rubles and 25 kopecks.