List of Renminbi exchange rates
Encyclopedia
Renminbi (RMB; Chinese yuan/CNY)
is the official currency in Mainland China
, although it isn't a freely convertible currency
, and it has an official exchange rate
, it plays a more important role in world economy and international trade
. After taking over economic policy at the end of 1978, Deng Xiaoping
opened up China
to foreign trade and investment, the country absorbed large foreign investment, in 2008, the used foreign direct investment
(FDI) reached a record US$92.4 billion and its International trade was estimated at US$2,561.6 billion. China became the 4th largest national economy in the world for the first time after 1949, Its nominal GDP (gross domestic product
) was estimated at US$2,257.62 billion (CNY18,493.74 billion), exceeded Britain
and France
in 2005; China has been the 3rd largest national economy since its GDP exceeded Germany and reached US$3,495.66 billion (CNY26,581.03 billion) in 2007; in 2010, China replaced Japan
as the world's second-largest economy in terms of nominal GDP. since middle 1990s, the official exchange rate has been adopting by more and more International financial and governmental organizations
, such as International Monetary Fund
(IMF), World Bank
(WB) and United Nations
(UN).
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
is the official currency in Mainland China
Mainland China
Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...
, although it isn't a freely convertible currency
Convertibility
Convertibility is the quality that allows money or other financial instruments to be converted into other liquid stores of value. Convertibility is an important factor in international trade, where instruments valued in different currencies must be exchanged....
, and it has an official exchange rate
Exchange rate
In finance, an exchange rate between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency...
, it plays a more important role in world economy and international trade
International trade
International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...
. After taking over economic policy at the end of 1978, Deng Xiaoping
Deng Xiaoping
Deng Xiaoping was a Chinese politician, statesman, and diplomat. As leader of the Communist Party of China, Deng was a reformer who led China towards a market economy...
opened up China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
to foreign trade and investment, the country absorbed large foreign investment, in 2008, the used foreign direct investment
Foreign direct investment
Foreign direct investment or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.. It is the sum of equity capital,other long-term capital, and short-term capital as shown in...
(FDI) reached a record US$92.4 billion and its International trade was estimated at US$2,561.6 billion. China became the 4th largest national economy in the world for the first time after 1949, Its nominal GDP (gross domestic product
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
) was estimated at US$2,257.62 billion (CNY18,493.74 billion), exceeded Britain
Economy of the United Kingdom
The economy of the United Kingdom is the sixth-largest national economy in the world measured by nominal GDP and seventh-largest measured by purchasing power parity , and the third-largest in Europe measured by nominal GDP and second-largest measured by PPP...
and France
Economy of France
France is the world's fifth largest economy by nominal figures and the ninth largest economy by PPP figures. It is the second largest economy in Europe in nominal figures and third largest economy in Europe in PPP figures...
in 2005; China has been the 3rd largest national economy since its GDP exceeded Germany and reached US$3,495.66 billion (CNY26,581.03 billion) in 2007; in 2010, China replaced Japan
Economy of Japan
The economy of Japan, a free market economy, is the third largest in the world after the United States and the People's Republic of China, and ahead of Germany at 4th...
as the world's second-largest economy in terms of nominal GDP. since middle 1990s, the official exchange rate has been adopting by more and more International financial and governmental organizations
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
, such as International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF), World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
(WB) and United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
(UN).
List of exchange rates
| RMB annual average middle exchange rate from major foreign currencies (1 foreign currency unit to RMB) |
PPP Purchasing power parity In economics, purchasing power parity is a condition between countries where an amount of money has the same purchasing power in different countries. The prices of the goods between the countries would only reflect the exchange rates... (IMF International Monetary Fund The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world... ) |
||||
| year | US dollar United States dollar The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies.... |
Japanese yen Japanese yen The is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling... |
Hong Kong dollar Hong Kong dollar The Hong Kong dollar is the currency of the jurisdiction. It is the eighth most traded currency in the world. In English, it is normally abbreviated with the dollar sign $, or alternatively HK$ to distinguish it from other dollar-denominated currencies... |
Euro Euro The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,... |
|
| 1981 | 1.7050 | 0.007735 | 0.30410 | 1.0066 | |
| 1982 | 1.8925 | 0.007607 | 0.31150 | 1.6130 | |
| 1983 | 1.9757 | 0.008318 | 0.27360 | 1.5672 | |
| 1984 | 2.3270 | 0.009780 | 0.29710 | 1.5850 | |
| 1985 | 2.9366 | 0.012457 | 0.37570 | 1.6954 | |
| 1986 | 3.4528 | 0.020694 | 0.44220 | 1.7375 | |
| 1987 | 3.7221 | 0.025799 | 0.47740 | 1.7756 | |
| 1988 | 3.7221 | 0.029082 | 0.47700 | 1.9240 | |
| 1989 | 3.7651 | 0.027360 | 0.48280 | 2.0118 | |
| 1990 | 4.7832 | 0.033233 | 0.61390 | 2.0503 | |
| 1991 | 5.3233 | 0.039602 | 0.68450 | 2.1155 | |
| 1992 | 5.5146 | 0.043608 | 0.71240 | 2.2368 | |
| 1993 | 5.7620 | 0.052020 | 0.74410 | 2.5193 | |
| 1994 | 8.6187 | 0.084370 | 1.11530 | 2.9759 | |
| 1995 | 8.3510 | 0.089225 | 1.07960 | 3.3156 | |
| 1996 | 8.3142 | 0.076352 | 1.07510 | 3.4630 | |
| 1997 | 8.2898 | 0.068600 | 1.07090 | 3.4544 | |
| 1998 | 8.2791 | 0.063488 | 1.06880 | 3.3865 | |
| 1999 | 8.2783 | 0.072932 | 1.06660 | 3.2955 | |
| 2000 | 8.2784 | 0.076864 | 1.06180 | 3.2922 | |
| 2001 | 8.2770 | 0.068075 | 1.06080 | 3.2855 | |
| 2002 | 8.2770 | 0.066237 | 1.06070 | 8.0058 | 3.2521 |
| 2003 | 8.2770 | 0.071466 | 1.06240 | 9.3613 | 3.2667 |
| 2004 | 8.2768 | 0.076552 | 1.06230 | 10.2900 | 3.4032 |
| 2005 | 8.1917 | 0.074484 | 1.05300 | 10.1953 | 3.4476 |
| 2006 | 7.9718 | 0.068570 | 1.02620 | 10.0190 | 3.4652 |
| 2007 | 7.6040 | 0.064632 | 0.97459 | 10.4175 | 3.6220 |
| 2008 | 6.9451 | 0.067427 | 0.89190 | 10.2227 | 3.8210 |
| 2009 | 6.8310 | 0.072986 | 0.88123 | 9.5270 | 3.7638 |
| 2010 | 6.7695 | N | N | N | 3.9460 |
| 2011(Jan to Nov) | 6.4718 | N | N | N | N |