Concept
Yuan (currency)
Related concepts (7)
United States dollar
The United States dollar (symbol: to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S.
Beijing
Beijing (beɪˈdʒɪŋ ; ; AUDBeijing pronunciation.oggbei3.jing1), alternatively romanized as Peking (piːˈkɪŋ ), is the capital of the People's Republic of China. With over 21 million residents, Beijing is the world's most populous national capital city as well as China's second largest city after Shanghai. It is located in Northern China, and is governed as a municipality under the direct administration of the State Council with 16 urban, suburban, and rural districts.
History of the Republic of China
The history of the Republic of China begins after the Qing dynasty in 1912, when the Xinhai Revolution and the formation of the Republic of China put an end to 2,000 years of imperial rule. The Republic experienced many trials and tribulations after its founding which included being dominated by elements as disparate as warlord generals and foreign powers.
Reserve currency
A reserve currency (or anchor currency) is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency. The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century.
Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency.
Renminbi
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China. It is the 5th most traded currency as of April 2022. The yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The renminbi is issued by the People's Bank of China, the monetary authority of China.
Pound sterling
Sterling (ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound (sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. In British English, its most common nickname is "quid." Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception.