Chinese Yuan Renminbi

5 wu jiao CNY Chinese Yuan Renminbi exchange rates

The renminbi /ˌrɛnmɪnˈbiː/ (Chinese: 人民币; pinyin: rénmínbì [ɻə̌n mǐn bî]; lit. "people's currency"; sign: 元, ¥; ISO 4217: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元, 圆; pinyin: yuán, [ɥæ̌n]) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The ISO code for renminbi (which may also be used for the yuan) is CNY (an abbreviation for "Chinese yuan"), or also CNH when traded in off-shore markets such as Hong Kong. The currency is often abbreviated RMB, or indicated by the yuan sign ¥. In Chinese texts the currency may also be indicated with the Chinese character for the yuan, 圆 (or 元 informally). The renminbi is legal tender in mainland China, but not in Hong Kong or Macau. Renminbi is sometimes accepted in Hong Kong and Macau, and are easily exchanged in the two territories, with banks in Hong Kong allowing people to maintain accounts in RMB. The currency is issued by the People's Bank of China, the monetary authority of China. Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th in 2015. On 1 October 2016, the RMB became the first emerging market currency to be included in the IMF's special drawing rights basket, the basket of currencies used by the IMF (reserve currency).
Nigerian Naira

5 wu jiao NGN Nigerian Naira exchange rates

The naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 Kobo. The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation. It controls the volume of money supply in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.

5 CNY to NGN mid-market rate

The 5 CNY to NGN mid market rate, (a.k.a 5 Chinese Yuan Renminbi to Nigerian Naira mid market rate) is derived from the mid-point between the "buy" and "sell" rates from global currency markets.

5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira exchange rate chart analysis

A market-based 5 wu jiao CNY to NGN exchange rate will change whenever the values of either of the two component currencies change (In this case, it's 5 wu jiao Chinese Yuan Renminbi and Nigerian Naira). Chinese Yuan Renminbi will tend to become more valuable whenever demand for it is greater than the available supply. Chinese Yuan Renminbi will become less valuable whenever demand is less than available supply (this does not mean people no longer want money, it just means they prefer holding their wealth in some other form, possibly another currency).

5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira news trends analysis

Chinese Yuan Renminbi does not have news for trends analysis.

Nigerian Naira does not have news for trends analysis.

5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira Wikipedia trends analysis

Chinese Yuan Renminbi Wikipedia trends analysis

Nigerian Naira Wikipedia trends analysis

5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira Google trends analysis

Chinese Yuan Renminbi does not have a Google keyword for analysis.

Nigerian Naira does not have a Google keyword for analysis.

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5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira conversion trends analysis

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5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira converter

Disclamer: 5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira converter is provided to give you some guidence about how to convert 5 wu jiao CNY Chinese Yuan Renminbi to NGN Nigerian Naira into other currencies based on the exchange rates today. You might need to find local forex traders to do the actual conversion.

5 wu jiao CNY Chinese Yuan Renminbi vs NGN Nigerian Naira ratings

Disclamer: 5 wu jiao CNY Chinese Yuan Renminbi vs NGN Nigerian Naira ratings are calculated by comparing CNY Chinese Yuan Renminbi and NGN Nigerian Naira's influence on Google, Wikipedia, Youtube, Twitter, Instagram and Facebook with other currencies in the world. Generally speaking, the bigger the hexagon is, the higher CNY Chinese Yuan Renminbi vs NGN Nigerian Naira ratings should be on the internet!