The US currency is the US dollar. The Chinese makes everyone confused because they have 2 names. The remninbi is a ridiculous name and should be replaced by Yuan because a yuan is understood to be a "remembi".
no reminbi means money and Yuan is unit name of the money. after 2nd opium war inflation one reminibi was devides into 100 thousand smalle4 units called Yuan. since the there is no single coin or paper note of one remimibi. but u can find im collections. super rare though. i have a 1 coin and one 100 note from the 1800s
Yes. Yuan and Renminbi (RMB) are two terms used to refer to China's currency. The main difference between them is that Yuan is the unit of the currency, while Renminbi is the name of the currency. In other words, Yuan refers to a specific amount of the currency, while Renminbi is the name of the currency as a whole. Therefore, the terms are often used interchangeably, but technically speaking, they have slightly different meanings.
no its more like dollar and cents. 1 dollar is 100 cents in the US right. 1 Remnibi is divided into 100 thoudand units called Yuan. and one Yuan is equal to 100 Fen. Here you could imagine Yuan equalant dollar as daily practical use currency of average ppl and Fen as cents. Chinese financial system is a 6000 year old very sophisticated system.
@@basharstats4482 Ahh, that makes sense, a little bit like the Japanese (old) currency system. People call it "Yen", but 1 Yen is just like 1 cent, and it can't buy anything. Years ago there was an even lower unit called "sen", which may be like your "fen".
The Sterling is the currency of the UK and the Pound is the unit. China's currency is the Renminbi and the unit is the Yuan. In the UK you don't say I've got 10 sterling. You'd say I've got 10 pounds. In China you'd say I've got 10 yuans.
Trivia: The RMB is traded internationally and is included in the International Monetary Fund's basket of reserve currencies alongside the US dollar, euro, Japanese yen, and British pound.
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Thanks I came here after StudyIQ's renmembi confusion.
Glad that it helped.
Finally some good explanation
Glad that it helped.
The US currency is the US dollar. The Chinese makes everyone confused because they have 2 names. The remninbi is a ridiculous name and should be replaced by Yuan because a yuan is understood to be a "remembi".
no reminbi means money and Yuan is unit name of the money. after 2nd opium war inflation one reminibi was devides into 100 thousand smalle4 units called Yuan. since the there is no single coin or paper note of one remimibi. but u can find im collections. super rare though. i have a 1 coin and one 100 note from the 1800s
I'm from Russian and in russian youtube not good explanation. Thanks for you❤
So glad that you liked it.
So renminbi means "Chinese money", and Yuan means how many of those Chinese money units.
Yes. Yuan and Renminbi (RMB) are two terms used to refer to China's currency. The main difference between them is that Yuan is the unit of the currency, while Renminbi is the name of the currency. In other words, Yuan refers to a specific amount of the currency, while Renminbi is the name of the currency as a whole. Therefore, the terms are often used interchangeably, but technically speaking, they have slightly different meanings.
no its more like dollar and cents. 1 dollar is 100 cents in the US right. 1 Remnibi is divided into 100 thoudand units called Yuan. and one Yuan is equal to 100 Fen. Here you could imagine Yuan equalant dollar as daily practical use currency of average ppl and Fen as cents. Chinese financial system is a 6000 year old very sophisticated system.
@@bearbullyou are very wrong. just do your homework. at least check out the Wikipedia page. don't be so lazy
i have a rare 100 Remnibi Note which is equivalent to 100k Yuan. Also its fixed. i will never have to worry about losing it's value
@@basharstats4482 Ahh, that makes sense, a little bit like the Japanese (old) currency system. People call it "Yen", but 1 Yen is just like 1 cent, and it can't buy anything. Years ago there was an even lower unit called "sen", which may be like your "fen".
The Sterling is the currency of the UK and the Pound is the unit. China's currency is the Renminbi and the unit is the Yuan. In the UK you don't say I've got 10 sterling. You'd say I've got 10 pounds. In China you'd say I've got 10 yuans.
Yes
tysm helped me alot
Glad that it helped.
Money in one lesson book by Gavin Jackson bought me here
👍
So it’s the same as sterling and pounds?
Yes
$RMB is where you want to be!!
Thanks. I'm gonna start telling people they owe me federal reserve notes.
Hahaha
yuan or rmb or wharever it is called, is worth no more than toilet paper
Trivia: The RMB is traded internationally and is included in the International Monetary Fund's basket of reserve currencies alongside the US dollar, euro, Japanese yen, and British pound.