1. What does CNY mean? CNY is the code for RMB, which is based on the abbreviation of Chinese RMB (Renminbi Yuan). In international foreign exchange transactions, whether it is futures trading or margin, the currency symbol of a certain country is usually used to represent the transaction amount. However, because the currency names and currency symbol naming rules used by each country are different, there are many inconveniences in foreign exchange transactions. Therefore, the United Nations Conference on Trade and Development and the Economic Commission for Europe adopted the international standard ISO-4217 three-character currency code as the international common currency code. According to the rules of ISO-4217 currency code, each currency is marked with a unique 3-letter International Standards Organization (ISO) code, where the first two represent the country or region to which the currency belongs, and the third represents the currency. unit. Taking RMB CNY as an example, China's country code registered at the United Nations is CHN, so CN represents the country or region of RMB, and Y is the currency unit yuan.
2. How many RMB is 1CNY equal to? 1CNY is equal to 1 RMB, which is also the smallest integer unit of RMB. Before the use of CNY, the abbreviation of RMB was RMB or? , is the first initial combination of Pinyin RenMinBi. In international trade, CNY is uniformly used for foreign exchange settlement and domestic settlement. Domestic banking institutions usually also use CNY as the RMB symbol. However, many people are still accustomed to using RMB in daily life and internal corporate accounting. I hope the above information about what CNY means will be helpful to everyone. Warm reminder: Financial management is risky, so investment needs to be cautious.