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    Sat-Sun & Holidays :9:00 AM to 6:00 PM

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Chinese Yuan(CNY) History: Buy or Sell Chinese Yuan at Best Exchange Rates in India

Explore the Chinese Yuan’s rich history and stay updated with its current exchange value. Buy, sell, or transfer Chinese Yuan at the best rates in India — with fast, secure doorstep delivery nationwide.

Buy Chinese Yuan

Overview:

Gaining insight into a country’s currency often helps in a deeper understanding of its culture and identity.

The Chinese Yuan Renminbi is the official currency of China. With a rising share of Chinese Yuan to nearly 8% of global foreign exchange market, it’s considered one of the most powerful currencies in the world. The Chinese Yuan is the 5th most traded currency in the world.

History of Chinese Yuan:

In 1949, Chinese Yuan was made sole legal currency to combat hyper-inflation and in 1955 to combat inflation currency, a re-evaluation occurred which made 1 Yuan equal to 10,000 old Yuan. Historically Yuan evolved from fragmented silver, copper and foreign currencies during imperial times to a consolidated modern currency under Communist China.

Currency in circulation:

China’s currency code is CNY, and it is denoted by the symbol “¥.”
Notes: 1 ¥, 2 ¥, 5 ¥, 10 ¥, 20 ¥, 50 ¥ and 100 ¥.

Evaluation of Chinese Yuan:

Let us look at some factors that influence and impact the Yuan:

  1. China’s large and strong economy helps support the foundation of Yuan globally.
  2. The geopolitical strategy of reducing reliance on usage of US Dollar and building a parallel financial system helps in usage of Yuan, thus driving its value as a currency globally.
  3. The yuan exchange rate policy is tightly managed to balance its competitiveness with other currencies in the global foreign exchange market.

Who requires Chinese Yuan and why is it necessary?

Having Chinese Yuan is necessary for several reasons like:

Traveler: Any traveler would require Chinese Yuan right from paying at a restaurant or buying yourself a souvenir to paying for your lodge.

Digital Payments:China is an advanced cashless economy; even with apps like WeChat or Alipay—everything works only in yuan. One would need to load Yuan into their digital wallets or convert it into Yuan. 

How to buy or sell Chinese Yuan at cost effective exchange rate in India?

Banks—Without dedicated support for currency exchange and a lack of branches providing currency exchange banks tend to be tiresome to deal with. Banks often have a lengthier documentation process and charges added which are not mentioned beforehand, which mostly tends to make the experience bad.

RBI-licensed Money Changers—Authorized by RBI money changers often play a crucial role in providing competitive Chinese Yuan exchange rates better than traditional banks.

Without a valid license, one cannot operate as Money Changer. Among several other money changers in the market however, Orient Exchange continues to remain a notable Category 2 dealer, which can help you to get the best exchange rate for Chinese Yuan in India.

What are the Benefits of Choosing Orient Exchange for Buying and Selling Chinese Yuan:

Best Exchange Rates in India—Real-time and transparent rates with no hidden markups.

Doorstep Delivery—Get Chinese yuan notes delivered to your home.

Fast International Transfers—Secure and efficient SWIFT transfers to over 50+ countries.

Trusted Forex Partner Since 2004—Decades of expertise and reliability in the foreign exchange industry.

How to send money to China through Orient Exchange?:

When it comes to send money to China through Orient Exchange, it can be done through cross-currency conversion, where initially US Dollar which gets converted to Chinese Yuan if accepted by the recipient bank.

Steps to send Chinese Yuan:

>> Choose the remittance purpose such as education, family maintenance, or medical needs.

>> Upload the required documents.

>> Send foreign currency to the beneficiary’s bank account abroad through a SWIFT transfer

>> Track your transaction online in real-time.

Conclusion :

TChinese Yuan continues to remain one of the stable currencies with tightly managed monetary policies and a strong economy. As China is tightly controlled economy reliant on Chinese Yuan for day-to-day transactions, carrying Chinese Yuan when traveling China is essential. Orient Exchange with its transparent fees, excellent support and reliable service remains the most affordable way to buy or sell Chinese Yuan in India.

Choose Orient Exchange for best travel.

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