Renminbi - Meaning, Definition & English Examples
The renminbi is the official currency of China, abbreviated as RMB. Its primary unit is the yuan, used for all financial transactions within the country. It is issued by the People's Bank of China.
Definition:
The official currency of China, issued by the People's Bank of China.
Synonyms:
yuan, RMB, Chinese currency
Part of Speech:
noun
Antonyms:
dollar, euro
Common Collocations:
exchange renminbi, renminbi reserves, renminbi-denominated bonds
Derivatives:
renminbization (rare), renminbi-backed
Usage Tips:
Use "renminbi" when referring to China's official currency in formal contexts; "yuan" is more common in daily speech.
Common Phrases:
strong renminbi, weak renminbi, renminbi appreciation
Etymology:
From Chinese "人民币" (rénmínbì), meaning "people's currency," introduced in 1949 after the Communist revolution.
Examples:
- 1. The renminbi is widely used in international trade.
- 2. She exchanged her dollars for renminbi at the bank.
- 3. The value of the renminbi fluctuates against the dollar.
- 4. Many businesses now accept payments in renminbi.