Renminbi refers to the currency that was first issued on 1 94865438+February1day after the establishment of the People's Bank of China and was designated as legal tender after the establishment of People's Republic of China (PRC). The People's Bank of China is the competent authority in charge of RMB management in People's Republic of China (PRC), responsible for the design, printing and distribution of RMB. By June, when the new edition of 1 99965438+1October1was launched, * * * issued five sets, forming a multi-variety and multi-series currency system including paper money and metal coins, ordinary commemorative coins and precious metal commemorative coins. The abbreviation of RMB is CNY ("CNISO 4217" ("CN") is generally used to represent People's Republic of China (PRC); Y "is the initials of pinyin Yuan, which is the abbreviation of" China dollar "), and offshore RMB is abbreviated as CNH, but the more commonly used abbreviation is RMB (Ren Minbi); Usually add "? "Before the number. (Take the initial letter "Y" of "Yuan" and put "=" on it to indicate the amount of RMB). Renminbi, whether paper money or coins, is in equal circulation.