Question

What is the currency of China ?
1. Yuan
2. Yen
3. Chinese Dollar
4. Real
5.

Answer 1

Correct Answer - Option 1 : Yuan

The correct answer is Yuan.

• Yuan is the currency of China and a unit of measure.
• The Chinese Yuan is the official currency of the People’s Republic of China.
• ‘Renminbi’  is the official currency of the People's Republic of China and one of the world's reserve currencies.
  •  The renminbi is issued by the People's Bank of China, the monetary authority of China
• The Yuan currency code is CNY and is represented using the symbol ¥.
• The word Yuan means ‘round’ eg. 10 Fen make 1 Jiao and 10 Jiao make 1 Yuan.
• It was first issued by the People’s Bank of China in 1948 and whilst the two terms are used interchangeably the relationship is similar to that of sterling and pounds in the UK.
• China's currency is the 5th most traded currency in the world and recently has been added to the basket of currencies used by the IMF.

• Yen: 
  • The yen is the official currency of Japan.
  • It is the third most traded currency in the foreign exchange market, after the United States dollar and the Euro.
  • It is also widely used as a third reserve currency after the U.S. dollar and the euro.
  • Currently, there are 1, 5, 10, 50, 100, and 500 yen coins in circulation since 2009.
  • The name yen derives from an ancient term for Chinese round coins (yuan).
• Real:
  • The Real is the official currency of Brazil.
    • It is subdivided into 100 centavos.
  • The Central Bank of Brazil is the central bank and the issuing authority. 
  • In April 2016, The Real was the nineteenth most traded currency in the world by value.
  • As of April 2019, The Real lost its position to the Turkish lira and became the twentieth most traded currency.
  • Coins are issued in denominations ranging from 1 centavo to 1 real.
  • Banknotes are valued from 1 to 100 reais.