YUAN Meaning and
Definition
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Yuan, also known as the Chinese yuan or renminbi, is the official currency of the People's Republic of China. It is represented by the symbol "¥" and has the ISO code CNY (Chinese Yuan Renminbi). The term "yuan" has been used in the Chinese language for centuries to denote a unit of currency.
As a noun, yuan refers to the basic monetary unit in China, similar to the concept of a dollar or a euro. It is subdivided into 10 jiao or 100 fen. The yuan is issued and regulated by the People's Bank of China, the country's central bank.
Yuan can also be used to refer to a physical unit of currency, including banknotes and coins, which are commonly used in daily transactions within China. Banknotes are available in various denominations, such as ¥1, ¥5, ¥10, ¥20, ¥50, and ¥100, while coins exist for smaller denominations.
In a broader sense, yuan may be used to describe the currency of all Chinese-speaking regions, including Taiwan, Hong Kong, and Macau. In these regions, the currency may be referred to as the New Taiwan dollar, Hong Kong dollar, or Macau pataca, respectively, but they are all functionally equivalent to the Chinese yuan.
With the rapid economic growth of China, the yuan has gained significant international recognition and is now considered one of the major reserve currencies. It plays a vital role in international trade and exchange rates, with its value being a subject of interest and speculation in global financial markets.
Top Common Misspellings for YUAN *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for YUAN
Etymology of YUAN
The word "yuan" has its roots in the Chinese language. It specifically originates from Chinese Mandarin, where it is pronounced as "yuán" (元). The etymology of "yuan" can be traced back to ancient times.
The character 元, which represents "yuan", first appeared in the Shang Dynasty of China around 1600-1046 BCE. Initially, it depicted a relief design on a jade ornament and had the meaning of "source", "origin", or "beginning". Later on, during the Qin Dynasty (221-206 BCE), the character began to be used to denote "currency" or "money".
The term "yuan" became more widely recognized during the Ming Dynasty (1368-1644) when it was established as the name for the primary unit of currency.
Similar spelling words for YUAN
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