CNY is the code name for RMB, which is based on the abbreviation of Chinese RMB.

In international foreign exchange transactions, whether it is futures trading or margin trading, the currency symbol of a certain country is usually used to represent the transaction amount. However, due to the different naming rules of currency names and currency symbols used in different countries, there are many inconveniences in foreign exchange transactions.

So the United Nations Conference on Trade and Development and the Economic Commission for Europe adopted the international standard ISO-4217 three-character currency code as the international common currency code.

According to the rules of ISO-4217 currency codes, each currency is marked by a unique 3-letter International Standards Organization (ISO) code, where the first two represent the country or region to which the currency belongs. Three represent monetary units.

Take CNY as an example. China's country code registered with the United Nations is CHN, so CN represents the country or region of RMB, and Y is the currency unit.

1CNY is equal to 1 yuan, which is also the smallest integer unit of RMB. Before the use of CNY, the renminbi was abbreviated as RMB or RMB, which was the first initial combination of the renminbi.

CNY is used for foreign exchange settlement and domestic settlement in international trade. Domestic banking institutions usually use CNY as the symbol of RMB. But many people are accustomed to using RMB in daily life and internal corporate accounting. Related Q&A: What does CNY mean?

360 Q&A

What does cny mean? yds01?LV122013-08-21

Satisfactory answer

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LV12

2013-08-22

The current abbreviation of RMB (RenMinBi Yuan) is RMB￥, and its abbreviation is the combination of letters starting with the Chinese pinyin of RMB , the standard currency symbol is CNY. The abbreviation of Hong Kong Dollar is HK$, and the standard currency symbol is HKD; the abbreviation of Macao Pataca is Pat or P, and the standard currency symbol is MOP; the abbreviation of New TaiWan Dollar is (NT$), The standard currency is TWD. However, because Chinese Pinyin has less influence in the world, it is not conducive for China's currency to go global and become a freely convertible currency known to the world.

For this reason, if "Renminbi Yuan" is changed to "Chinese Yuan", it can be connected with the currencies of Hong Kong, Macau and Taiwan. The abbreviation of "CHINA Dollar" is "CN $", which is in line with the international currency abbreviation mark. Its abbreviation is exactly It is close to the current standard currency symbol "CNY" of our country's currency in the international financial market