The legal tender in People's Republic of China (PRC) is RMB, and the People's Bank of China is the competent authority of RMB, responsible for the design, printing and distribution of RMB.
The unit of RMB is yuan, and the unit of RMB token is jiao and fen. 1 yuan equals 10 angle, 1 angle equals 10 minute. The symbol of RMB is Yuan, and the initial letter of pinyin is Y plus two horizontal lines, which is "RMB".
It has been 7 1 year since People's Republic of China (PRC) issued RMB. With the development of economic construction and the needs of people's lives, it will be gradually improved and improved. So far, five sets of RMB have been issued, forming a multi-variety and multi-series monetary system, such as paper money and metal coins, ordinary commemorative coins and precious metal commemorative coins.
In August 2020, the People's Bank of China issued the Report on RMB Internationalization in 2020. In 20 19, the amount of RMB cross-border receipts and payments by banks on behalf of customers was nearly 20 trillion yuan, up by 24 points and 1% year-on-year, and the amount of receipts and payments reached a record high. RMB has become the fifth largest payment currency and the fifth largest reserve currency in the world.
: International Monetary Fund
According to the latest data released by the International Monetary Fund (IMF) on June 5th, 2020, as of the third quarter of 20 19, RMB foreign exchange reserve assets were about 2 196. 200 million US dollars, the proportion rose from 1.97% in the second quarter to 20 1%, the highest level since the IMF reported RMB reserve assets in June 20 16.
On June 30th, 20021year local time, the International Monetary Fund (IMF) released "Cofell". The data shows that in the first quarter of 200212002, the total foreign exchange reserves of RMB rose from $269.409 billion in the fourth quarter of last year to $287.406 billion, achieving nine consecutive quarters of growth. The proportion of RMB in global foreign exchange reserves rose to 2.45%, the highest since the fourth quarter report of IMF 20 16.