the.com/yuan
China's currency, pegged on a leash long enough to look free, short enough to never run.
means The basic unit of Chinese currency, also called the renminbi in its official role as the people's money.
from From Chinese yuán (元/圓), literally 'round object' — a word originally used for round coins, especially the silver dollars that circulated through Chinese ports via trade with the West. The shape gave the coin its name, and the coin gave the name to the currency itself, a pattern echoed by other 'round' currency words across East Asia, like Japan's yen and Korea's won, all tracing back to the same character.
- official name
- renminbi; yuan is the unit, like pound and sterling
- two versions
- onshore CNY and offshore CNH trade at different prices
- symbol overlap
- shares the sign with yen: both write as
- global ambition
- IMF reserve currency since 2016, still trails the dollar hugely