A great website on China economy

Discussion in 'Economics' started by richardyu301, Dec 10, 2007.

  1. piezoe


    Richard Yu, can you explain for me please the difference between the Yuan and the Renminbi, or are they the same. I don't do Forex, and this has been puzzling me. Thanks, and thanks for the link.
  2. Steve_IB

    Steve_IB Interactive Brokers

    Essentially the same. Renminbi refers to the currency in general. The Yuan is the largest denomination, 1 Yuan is the equivalent of 10 Jiao, and 1 Jiao is equal to 10 Fen.
  3. Name: Renminbi
    1 Yuan = 10 jiao = 100 Fen

    Name: USD
    1 Dollar = 10 dimes = 100 cents
  4. piezoe


    Thanks Steve and number22, that clears it up very nicely.