Thursday, January 19, 2017 9:14 PM
Currencies rates online for Chinese Renminbi (CNH) to US Dollar (USD).
Forex data is updating every 5 minutes.
In order to convert currencies, please go to US Dollar (USD) to Chinese Renminbi (CNH).
The currency converter uses the latest Forex exchange rates.
The Chinese renminbi (symbol: ¥; currency code: CNY, CNH – when traded in Hong Kong –) is the official currency of the People’s Republic of China. It is often abbreviated as RMB or CN¥, to distinguish between it and other currencies with the same symbol. The basic unit of the renminbi is the yuan, which is often employed to refer to the Chinese currency in general. One (1) yuan is equal to ten (10) jiao, and one (1) jiao is equal to ten (10) fen.
The renminbi is issued by the People’s Bank of China and, as of 2015, is the fifth most heavily traded currency in the world.
During the Republic of China era, several different currencies were in circulation. These were replaced by one currency in 1948, issued by the People’s Bank of China after the Communist Party of China gained greater control. This currency eventually came to be known as the renminbi in 1949.
The U.S. dollar (symbol: $; currency code: USD) is the official currency of the United States of America and its overseas territories. One (1) US dollar is equal to one hundred (100) cents.
The U.S. dollar is a Federal Reserve Note and the world’s dominant reserve currency. As such, it is the most converted currency in the world and the currency most used in international transactions. In addition, it features as the standard currency in the commodity market, having a key impact on commodity prices, and is the most popular and heavily traded currency in the forex market.
The dollar was adopted as the official money unit of the United States in 1785. The federal monetary system was established following the Coinage Act of 1792, which also created the first U.S. Mint. Paper currency was first issued by the U.S. government in 1862 in order to finance the Civil War. The first $10 Federal Reserve notes were issued in 1914, but it was not until 1929 that the U.S. currency began to feature the standard portraits on the front and monuments and emblems on the back of all bills.