1. The legal tender in People's Republic of China (PRC) is RMB. No unit or individual may refuse to pay all public and private debts in People's Republic of China (PRC) in 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. Renminbi is issued by the People's Bank of China. Except for 1.2.5 coins, the first, second and third sets of RMB have been withdrawn from circulation, and the fourth set of RMB has been withdrawn from circulation since May 1, 2065438. The RMB circulating in the market is the fifth set of RMB; Bills in circulation are: 1.5 jiao,1.5.10,20,50, 100 yuan; Coins have 1 yuan, 5 cents, 1 minute, 5 cents, 2 cents, 1 minute.
2. 1950 entrusted by the president, Mr. Wang wrote the words "People's Bank of China" for RMB. Among the five sets of RMB exhibited in China Coin Museum, different from the last four sets, the six words "China People's Bank" and Chinese characters on the first set of RMB (except for the 5,000 yuan Weihe Bridge Design Voucher in 1953 version) are arranged from right to left, while Chairman Mao proposed that the names of RMB banks are arranged from left to right in 65432. On October 30th, 2065438+081kloc-0/0, the Philippine RMB Dealers Association was formally signed and established in Manila, the capital, which indicated that RMB and Philippine peso would be directly exchanged. Philippine Association of RMB Dealers is the first self-regulatory financial organization outside China to conduct RMB-to-local currency transactions. Under the guidance and supervision of the Central Bank of the Philippines, the association will build a direct trading market between RMB and Philippine peso, realize the direct exchange between RMB and peso, and end the history that foreign exchange transactions in the Philippines must be transited through US dollars. This is a solid step for RMB internationalization in the Philippines.