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The Renminbi (RMB) (sign: ¥; code: CNY) is the official currency of the People's Republic of China (PRC), whose principal unit is the Yuan. The currency is legal tender in mainland China, but not in Hong Kong and Macau.
Renminbi (simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally "people's currency"). The renminbi is issued by the People's Bank of China, the monetary authority of the PRC. At the moment it is mainly a domestic currency as it is not a free floating currency however given the size of the Chinese economy and its rapid growth, it is touted to become one of the major media of exchange.
A yuán (元) is also known colloquially as a kuài (块 - "lump", originally of silver). One yuán is divided into 10jiǎo (角) or colloquially máo (毛 - "feather"). One jiǎo is divided into 10 fēn (分). In Cantonese, widely spoken in Guangdong, Hong Kong and Macau, kuài, jiǎo, and fēn are called mān (蚊), hòuh (毫), and sīn (仙), respectively. Sīn is a word borrowed into Cantonese from the English cent.