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Singapore DollarThe currency of China
Chinese
YuanCNY
The currency of China is the Chinese yuan (CNY), the unit of the renminbi, issued by the People's Bank of China. It is on a managed float with reference to a basket of currencies: one yuan costs ₹15.06 at our selling rate right now.
- Code
- CNY
- Symbol
- ¥元
- Subunit
- 10 jiao
- In use since
- 1948
What is the currency of China?
The currency of China is the renminbi, and its unit is the yuan, so the money is called the Chinese yuan, code CNY. Renminbi (人民币) means people's currency: it names the money, and the yuan (元) is what you count it in. RMB is the usual written short form, but it is not an ISO code. One yuan is divided into 10 jiao and each jiao into 10 fen, so a yuan is 100 fen. The People's Bank of China issues it, and the first renminbi appeared in 1948. China runs a managed float with reference to a basket of currencies, so against the rupee it moves with the market: on 5 Oct 2026, one yuan was worth about ₹15.06 at our selling rate. CNY is the onshore rate inside mainland China, under controls from the People's Bank of China and the State Administration of Foreign Exchange (SAFE). CNH is the informal code for renminbi traded offshore, mainly in Hong Kong, so the two can differ. A quote in CNY currency always means this yuan and not the Japanese yen, which shares the ¥ sign but is a separate currency.
Chinese Yuan at a glance
- Currency
- Chinese yuanThe money is the renminbi (人民币); the yuan is its unit
- Code
- CNYNumeric code 156; CNH is an offshore market code, not ISO
- Symbol
- ¥, or 元The yen shares ¥, so CN¥ tells them apart
- Subunit
- 1 yuan = 10 jiaoA jiao is 10 fen, so a yuan is 100 fen
- Issuer
- People's Bank of ChinaThe law gives it the sole right to print and issue the renminbi
- Introduced
- 1948First issued in December 1948, before the republic
- Exchange rate
- Managed floatManaged with reference to a basket of currencies
- Used in
- Mainland ChinaHong Kong and Macao use their own currencies
- Banknotes
- 1, 5, 10, 20, 50 and 100 yuanThe fifth series, with Mao Zedong on the front of every note
- Coins
- 1 yuan, 5 jiao and 1 jiaoA chrysanthemum on the yuan, a lotus on the 5 jiao and an orchid on the 1 jiao
China currency notes and coins
Chinese money comes as six banknotes and three coins, all of the fifth series of the renminbi. Every note has Mao Zedong on the front with a different flower for each value, and a different scene of China on the back. Upgraded 50, 20, 10 and 1 yuan notes were issued on 30 August 2019 and a 5 yuan edition followed from 5 November 2020, each circulating alongside the older notes at equal value. Each note is shown with what it costs in rupees at our selling rate today.
- People's Bank of ChinaOne yuan¥1
One yuan ¥1
≈ ₹15.06 today- Colour
- Olive green
- Front
- Mao Zedong, with an orchid
- Back
- Three Pools Mirroring the Moon at West Lake, Hangzhou
- People's Bank of ChinaFive yuan¥5
Five yuan ¥5
≈ ₹75.30 today- Colour
- Purple
- Front
- Mao Zedong, with a narcissus
- Back
- Mount Tai
- People's Bank of ChinaTen yuan¥10
Ten yuan ¥10
≈ ₹150.60 today- Colour
- Blue
- Front
- Mao Zedong, with a rose
- Back
- The Three Gorges of the Yangtze River
- People's Bank of ChinaTwenty yuan¥20
Twenty yuan ¥20
≈ ₹301.20 today- Colour
- Brown
- Front
- Mao Zedong, with a lotus
- Back
- The scenery of Guilin
- People's Bank of ChinaFifty yuan¥50
Fifty yuan ¥50
≈ ₹752.99 today- Colour
- Green
- Front
- Mao Zedong, with a chrysanthemum
- Back
- The Potala Palace in Lhasa
- People's Bank of ChinaOne hundred yuan¥100
One hundred yuan ¥100
≈ ₹1,505.98 today- Colour
- Red
- Front
- Mao Zedong, with a plum blossom
- Back
- The Great Hall of the People in Beijing
Coins, in jiao
A chrysanthemum on the 1 yuan, a lotus on the 5 jiao and an orchid on the 1 jiao. The 1 yuan is nickel-plated steel, and the 2019 edition made it smaller, from 25 mm to 22.25 mm.
- 11 jiao
≈ ₹1.51 - 55 jiao
≈ ₹7.53 - 11 yuan
≈ ₹15.06
Sources: People's Bank of China, banknotes and coins; Wikipedia, "Fifth series of the renminbi"; colours as printed. Rupee values at our selling rate, 10:25 AM IST, 5 Oct 2026.
The money starts with the bank
The country comes second
So 50 yuan is 50 units of renminbi
The money that came before the country
The renminbi is older than the country that issues it. The People's Bank of China was set up on 1 December 1948 and issued the first renminbi that month, about ten months before the People's Republic of China was founded on 1 October 1949.
The bank and the money start together
The People's Bank of China is established from the merger of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank, and the first renminbi is issued that month.
Paper money only
The renminbi is paper only at first and replaces the various currencies used in Communist-held areas.
The republic is founded
About ten months after the first renminbi, the People's Republic of China is founded. The money is older than the state.
One law, two names
The People's Bank of China law says the renminbi is printed and issued solely by the bank, and that no institution or individual may refuse it as payment of public or private debts within the territory. The money is the renminbi and the unit is the yuan.
Sources: People's Bank of China, English site (the bank's history and the PBC Law, Articles 16 and 18); Wikipedia, "Renminbi".
A yuan on a managed float
The yuan is on a managed float, not a fixed peg. The People's Bank of China describes a regime based on market supply and demand with reference to a basket of currencies, so the yuan's price in rupees can change from one day to the next.
Managed, with a basket in view
The People's Bank of China says China pursues a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. The yuan's price in rupees moves with the market.
The dollar peg ended in 2005
On 21 July 2005 China ended the renminbi's peg to the US dollar and reset the rate to 8.11 yuan per US dollar.
One of five IMF basket currencies
On 1 October 2016 the renminbi became the fifth currency in the IMF's SDR basket (Special Drawing Rights), with the US dollar, euro, yen and pound sterling, at an initial weight of about 10.9 percent.
One unit in rupees · our selling rate, 5 Oct 2026
The Chinese yuan since 1948
The renminbi is older than the People's Republic, and it has changed a great deal since, from a dollar peg to an IMF basket and from paper to a digital wallet. What changed along the way, in eight entries.
- EntryChina
The renminbi is issued
The People's Bank of China is established on 1 December 1948 and issues the first renminbi that month. It is paper only at first and replaces the various currencies used in Communist-held areas.
Launch - EntryChina
The dollar peg ends
On 21 July 2005 China ends the renminbi's peg to the US dollar and moves to a managed float with reference to a basket of currencies. The dollar rate is reset to 8.11 yuan.
Peg ends - EntryChina
Offshore renminbi in Hong Kong
Hong Kong banks first offered personal renminbi services on 25 February 2004, and in July 2010 Hong Kong gets an offshore interbank renminbi market. Offshore renminbi trades under the informal code CNH, so its rate can differ from the onshore CNY.
CNH - EntryChina
A currency in the IMF basket
On 30 November 2015 the IMF Executive Board decides that the renminbi is freely usable. On 1 October 2016 it becomes the fifth currency in the SDR basket, with the US dollar, euro, yen and pound sterling, at an initial weight of about 10.9 percent.
IMF basket - EntryChina
The fourth series retires
On 1 May 2018 most of the fourth series stops circulating, including the 100, 50, 10, 5, 2 and 1 yuan notes, under an announcement dated 22 March 2018. Banks exchanged them from 1 May 2018 to 30 April 2019, and the 1 jiao and 5 jiao notes stay legal tender.
Old notes - EntryChina
Upgraded notes and coins
On 30 August 2019 upgraded 50, 20, 10 and 1 yuan notes and 1 yuan, 5 jiao and 1 jiao coins are issued, with brighter colours and better security. They keep the main design and colour of the earlier editions and circulate alongside them at equal value. A 5 yuan edition follows from 5 November 2020.
New notes - EntryChina
Visitors can pay by phone
From July 2023 visitors can link a foreign Visa or Mastercard to WeChat Pay and Alipay, verified with a passport and a foreign phone number.
- EntryChina
The e-CNY becomes deposit money
The digital renminbi began as research at the end of 2017 and went to pilot cities from the end of 2019. From 1 January 2026 the People's Bank of China moves it to a digital deposit money model, in which wallet balances held at banks pay interest at deposit rates.
Digital
Sources: People's Bank of China, English site (history, the PBC Law, banknote and coin pages and announcements); IMF, SDR basket; Hong Kong Monetary Authority; China Daily; State Council, English site (the e-CNY); Wikipedia, "Renminbi", "Fifth series of the renminbi" and "Fourth series of the renminbi".
Yuan and rupees side by side
Worked out at our selling rate at 10:25 AM IST on 5 Oct 2026. For the live rate on any amount, use the CNY to INR or INR to CNY converter.
| You pay | You get |
|---|---|
| ₹5,000 | ¥ 332.01 |
| ₹10,000 | ¥ 664.02 |
| ₹25,000 | ¥ 1,660.05 |
| ₹50,000 | ¥ 3,320.10 |
| ₹1,00,000 | ¥ 6,640.19 |
| ₹2,00,000 | ¥ 13,280.39 |
| You buy | It costs |
|---|---|
| ¥ 100 | ₹1,505.98 |
| ¥ 500 | ₹7,529.90 |
| ¥ 1,000 | ₹15,059.80 |
| ¥ 5,000 | ₹75,299.00 |
| ¥ 10,000 | ₹1,50,598.00 |
| ¥ 20,000 | ₹3,01,196.00 |
Spending yuan in China
Three things about Chinese money that help on the first day.
Alipay and WeChat Pay take foreign cards
Visitors can link a foreign Visa or Mastercard to Alipay or WeChat Pay, verified with a passport and a foreign phone number. On 1 March 2024 the People's Bank of China said the limit for overseas visitors' mobile payments had gone from US$1,000 to US$5,000 a payment and from US$10,000 to US$50,000 a year.
Passport and foreign phone numberCash must be accepted
A People's Bank of China notice of 13 July 2018 says no organisation or individual may refuse cash, with exceptions for payments the law requires to be non-cash and for online services and unmanned sales that cannot collect it. The bank also issued a voluntary cash payment sign for shops, meant to help elderly and overseas visitors. The 100 yuan note, the highest value, is about ₹1,505.98 at our selling rate.
100 yuan ₹1,505.98 · 1 yuan ₹15.06UnionPay is the local card network
UnionPay is China's own card network. In India it has tied up with NPCI for ATMs and Pine Labs for shops so that Chinese visitors can pay here, which is the reverse direction to a visit to China.
UnionPay · NPCI · Pine LabsTaking Chinese yuan from India
The Reserve Bank of India's rules apply to every currency, and the Chinese yuan is no exception.
Up to the equivalent of USD 3,000 per trip can leave India as Chinese yuan notes. The rest goes on a forex card or as a bank transfer.
Every resident can send up to USD 250,000 abroad each financial year under the Liberalised Remittance Scheme, travel included.
Tax collected at source applies once your foreign-exchange purchases in a financial year cross ₹10 lakh: nil when an education loan pays, 2% for self-funded education and medical treatment, and 20% for travel and everything else. It is credited against your income tax when you file.
Chinese yuan is on our booking form. Send your amount and the desk confirms your exact rate before anything is booked.
Book Chinese Yuan→Chinese yuan questions
The questions people type about the Chinese yuan, answered in full, in three groups.
The basics
8 questionsWhat is the currency of China?
The currency of China is the renminbi, whose unit is the yuan, so it is usually called the Chinese yuan, code CNY. The People's Bank of China issues it, and one yuan is divided into 10 jiao or 100 fen. It is the money of mainland China, while Hong Kong and Macao use their own currencies.
What is the full form of CNY in currency?
CNY stands for Chinese yuan: it is the ISO 4217 code, and the list names the currency Yuan Renminbi and gives it numeric code 156 and two decimal places. That is the CNY full form and the CNY currency full form alike. RMB is the usual written short form of renminbi, but it is not an ISO code.
What is the Chinese yuan symbol?
The Chinese yuan symbol is ¥, the same sign the Japanese yen uses, and in Chinese it is written 元 after the number, as in 50元. That is the China currency symbol and the Chinese currency symbol you will see on prices, and CN¥ is written when it must be told apart from the yen. Together, the China currency name and symbol read renminbi (RMB) and ¥.
China ki currency kya hai?
China ki currency Chinese yuan (CNY) hai, jise renminbi ya RMB bhi kehte hain. Ek yuan mein 10 jiao hote hain, aur 5 Oct 2026 ko ek yuan lagbhag ₹15.06 ka tha, hamare selling rate par. China ki currency ka symbol ¥ hai.
What is the China currency name?
The China currency name is the renminbi, meaning people's currency, and the Chinese yuan is its unit. It is also searched as China money, Chinese money, China yuan, RMB currency or CNY currency, and all of these mean the same money.
Why is China's currency called both renminbi and yuan?
Renminbi (人民币) is the name of the money and the yuan (元) is its base unit, so 50 yuan is 50 units of renminbi. On banknotes the formal character for the unit is 圆. In English both renminbi (RMB) and yuan are used, and RMB is a written abbreviation, not an ISO code.
How many jiao and fen make one yuan?
One yuan is 10 jiao, and one jiao is 10 fen, so one yuan is 100 fen. The coins are the 1 yuan, 5 jiao and 1 jiao, and the ISO list gives the yuan two decimal places, as in 12.50 yuan.
What is CNH, and how is it different from CNY?
CNH is the informal market code for renminbi traded offshore, mainly in Hong Kong, and it is not an ISO 4217 code. CNY is the onshore rate inside mainland China, under controls from the People's Bank of China and SAFE, while CNH is the more freely traded offshore rate, so the two can differ.
Value and history
7 questionsWho issues the Chinese yuan?
The People's Bank of China issues the renminbi: its law says the renminbi shall be printed and issued solely by the bank, and that no institution or individual may refuse it as payment of public or private debts within the territory. The bank was established on 1 December 1948.
Is the yuan fixed or floating?
It is a managed float, not a fixed peg: the People's Bank of China says China pursues a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. China ended the renminbi's peg to the US dollar on 21 July 2005, when the rate was reset to 8.11 yuan per dollar.
Is the renminbi older than the People's Republic of China?
Yes. The People's Bank of China was established on 1 December 1948 and the first renminbi was issued that month, about ten months before the People's Republic was founded on 1 October 1949. The renminbi was paper only at first and replaced the various currencies used in Communist-held areas.
Which Chinese banknotes and coins are in use?
Six banknotes of the fifth series, the 1 yuan (olive green), 5 yuan (purple), 10 yuan (blue), 20 yuan (brown), 50 yuan (green) and 100 yuan (red), each with Mao Zedong on the front and a scene on the back, plus coins of 1 yuan, 5 jiao and 1 jiao. The upgraded notes of 2019 and the 5 yuan of 2020 circulate alongside the older editions at equal value.
Are old Chinese notes still valid?
Older editions of the fifth series are, yes: the 2019 and 2020 upgrades circulate alongside them at equal value. Most of the fourth series (1987 to 1997) stopped circulating on 1 May 2018 and was exchangeable at banks from 1 May 2018 to 30 April 2019, but its 1 jiao and 5 jiao notes remain legal tender.
Is the Hong Kong dollar the same as the yuan?
No. Hong Kong and Macao use their own currencies, the Hong Kong dollar (HKD) and the Macao pataca (MOP), while the renminbi is the currency of mainland China. In the ISO list the Hong Kong dollar has numeric code 344 and the pataca 446, against 156 for the yuan.
Is the renminbi one of the IMF's SDR currencies?
Yes. The IMF Executive Board decided on 30 November 2015 that the renminbi is a freely usable currency, and from 1 October 2016 it has been the fifth currency in the SDR basket, with the US dollar, euro, yen and pound sterling. Its initial weight was about 10.9 percent.
Buying from India
2 questionsHow much Chinese currency can I take out of India?
Up to the equivalent of USD 3,000 per trip in currency notes. Anything above that goes on a forex card or as a bank transfer, all within the USD 250,000 a year Liberalised Remittance Scheme limit.
How do I get yuan for a trip to China?
Order your yuan before you fly. Matrix Forex, an RBI-authorised Category-II dealer, has Chinese yuan on its booking form: send your amount through the booking bar at the top of this page and the desk confirms your exact rate before anything is booked. For the live rate on any amount, see the CNY to INR converter.