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The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China. [1] Although it is not a freely convertible currency , and has an official exchange rate , the CNY plays an important role in the world economy and international trade .
For most of its early history, the renminbi was pegged to the U.S. dollar at ¥2.46 per USD. During the 1970s it was revalued, until it reached ¥1.50 per USD in 1980. Its value gradually declined as China embarked on a new economic course during Deng Xiaoping's leadership and transformed into a more market-based capitalistic economy. [6] [7]
The People's Bank of China lowered the renminbi's daily fix to the US dollar by 1.9 per cent to ¥6.2298 on 11 August 2015. The People's Bank of China again lowered the renminbi's daily fix to the US dollar from ¥6.620 to ¥6.6375 after Brexit on 27 June 2016. It had not been this low since December 2010.
This is the map and list of Asian countries by monthly average wage (annual divided by 12 months) gross and net income (after taxes) average wages for full-time employees in their local currency and in US Dollar. The chart below reflects the average (mean) wage as reported by various data providers.
Alternatively the slash may be omitted, or replaced by either a dot or a dash. A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR/USD. The quotation EUR/USD 1.2500 means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency (counter currency).
The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar. ... 109–113 (122–140 PM) ... AUD CAD CHF CNY EUR GBP ...
The dim sum bond market generally refers to RMB-denominated bonds issued in Hong Kong. The majority of dim sum bonds are denominated in CNH, but some are linked to CNY (but paid in USD). In July 2007, dim sum bonds worth a total of US$657 million were issued for the first time by the China Development Bank. [8]
109 104 Israel: 109 105 Italy: 94 73 Japan: 96 69 South Korea: 84 69 Latvia No Data 64 Lithuania No Data 59 Luxembourg: 112 98 Mexico: 66 65 Netherlands: 102 84 New Zealand: 118 93 Norway: 134 92 Poland: 51 51 Portugal: 73 64 Slovakia: 63 66 Slovenia: 75 66 Spain: 84 69 Sweden: 109 87 Switzerland: 162 127 Turkey: 61 31 United Kingdom: 121 95 ...