alt Hacker NewsIt's a little confusing, but technically RMB (renminbi) is the official name of the currency and CNY (yuan) is the base unit of the currency. Think of it like the difference between USD ("US Dollar") vs "dollar and cents", except there is no fractional yuan equivalent of cents, so it's all just yuan.
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darrenf • today at 1:02 PM
Pretty sure the jiao (角) (1/10th of a yuan) is still in use?
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mytailorisrich • today at 1:20 PM
No there are cents, they are called fen (分).
It's in Japan that it's all just Yen.
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So the conversation might go, "Hi we're Deutsche Bank - we're able to clear renminbi transactions up to one million yuan." ?