What is Chinese yuan (CNY) & renminbi (RMB)?

The Chinese yuan (CNY) and renminbi (RMB) are closely linked terms for China's currency. Renminbi is the official name of China's currency. The renminbi's principal unit is the Chinese yuan. CNY is the official ISO 4217 abbreviation for China's currency.

What is the difference between RMB and CNY?

RMB is the official currency of the People's Republic of China. It means "people's currency" in Mandarin. CNY is a unit of the currency. A popular analogy draws from British currency: RMB is the name of China's currency just as sterling is the currency of Great Britain. A unit of renminbi is a CNY just as the pound is the basic unit of sterling.

What is the difference between renminbi and CNY?

There is essentially no difference. The renminbi is the official currency of the People’s Republic of China, and translates to “people’s money.” Its international symbol is CNY (or CNH in Hong Kong; but abbreviated RMB, with the symbol ¥).