Bitcoin To Chinese yuan Renminbi Exchange Rates for you

Norwegian ([ɻə̌n.mǐn.pî] (Listen): Signature: 元, ¥ · ISO 4217: CNY) is the official currency of the People's Republic of China. Until 2005, the value of the yuan was linked to the US dollar. As China followed its transition from central planning to a market economy and increased its participation in foreign trade, the yuan was undervalued to increase the competitiveness of the Chinese industry. It has previously been argued that the official exchange rate of the Chinese currency was depreciated by 37.5% against the purchasing power parity. More recently, however, appreciation movements from the Chinese government, as well as the quantitative easing measures taken by the Federal Reserve and other major central banks, caused reminnning to be only 8% of the equilibrium value in the second half of 2012. Since 2006 , the exchange rate of the Chinese currency is allowed to float close to a fixed base rate determined on the basis of a basket of global currencies. The Chinese government has announced that it will gradually increase the exchange rate flexibility. As a result of the rapid internationalization of the renminbi, it became the world's eighth most negotiable currency in 2013 and the 5th in 2015. On October 1, 2016, the RMB became the first emerging market currency to be included in the special basket of IMF rights, the basket of currencies used by the IMF (reserve currency)
The page provides the exchange rate of 1 Chinese yuan (CNY) at Bitcoin (BTC), the selling and conversion price. In addition, we added the list of the most popular conversions for visualization and the history table with an exchange rate chart for 1 Chinese yuan (CNY) at Bitcoin (BTC) from Thursday 21/02/2019 to Thursday, 14/02/2019. Last updated 1 Chinese Yuan (CNY) exchange rate.Bitcoin To Chinese yuan Renminbi Exchange Rates & Conversion