CNY is the code name of RMB, which is based on the abbreviation of RMB in China.
In international foreign exchange transactions, whether futures trading or margin trading, the currency symbol of a certain country is usually used to express the transaction amount. However, due to the different naming rules of currency names and 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-42 17 as the international common currency code.
1CNY is equal to 1 RMB:
It is also the smallest integer unit of RMB yuan. Before CNY was used, the abbreviation of RMB was RMB or RMB, which was the first initial combination of pinyin RMB.
In international trade, CNY is uniformly used for foreign exchange settlement and domestic settlement, and domestic banking institutions usually use CNY as the symbol of RMB. But many people are still used to using RMB in their daily life and internal accounting.