How much is 1 yuan to Philippine Peso (PHP)? How much is 1 yuan in Philippine currency? How much is 1 Chinese yuan in Philippine currency? What is the exchange rate for CNY to PHP? Those are questions that many people are interested in.
In the context of the current growing economy up to 2020, China is one of the countries with the second largest economic influence in the world after the US. That is why the value for money of China is also paid attention.
So what is the yuan? How much is 1 yuan to Philippine Pesos currency? The content of this article will help you better understand that.
Table of Contents
What is yuan – CNY?
The Renminbi is the official currency of China circulating in Mainland China. The Chinese Yuan is abbreviated as CNY and it was included in the list of reserve currencies in the world on October 1, 2016 in parallel with the USA, UK Japan, Euro and Japanese Yen.
- RMB is the international convention RMB is the abbreviation name RENMINBI.
- According to ISO-4127, it is abbreviated as CNY, name of Latin alphabet yuan, international transaction name CNY-China Yuan.
- Name of Latin letters: Yuan.
- International symbols: ¥.
China has 2 currencies: banknotes (paper money) and coins that are still in circulation today:
Coins are denominated in denominations of 1, 2, 5 dime and 1 yuan
Banknotes are denominated in denominations of 1, 2, 5 dime, 1, 2, 5, 10, 20, 50 and 100 yuan
And the local currency conversion rate is:
- 1 yuan = 10 dime
- 1 dime = 10 cents
How much is 1 yuan to Philippine Peso 2020?
In order to calculate how much 1 yuan to Philippine Peso, you need to update the exchange rate from time to time to know its current actual exchange rate.
According to the yuan conversion rate (CNY) calculated on the average of the current buying and selling prices in banks on Nov, 2020, we get 1 Chinese yuan into Philippine currency as follows:
1 Yuan (CNY) = 7.29 PHP
- The amount of PHP is the following amount to be converted from CNY
- The Chinese amount is the CNY amount you want to convert
- CNY exchange rate is the updated rate specifically at the present
- 10 CNY = 72.9 PHP
- 100 CNY = 729 PHP
- 1000 CNY = 7290 PHP
- 10,000 CNY (10,000 Yuan) = 72900 PHP
- 1,000,000 CNY (1 million Yuan) = 729000 PHP
Why should you follow the CNY currency?
Because the exchange rate between the RMB and the Philippine Peso is constantly changing, keeping track of the renminbi rate will help you to control your finances when planning to go to work or travel. study, travel or trade or exchange goods with China China.
As for those who intend to buy and sell RMB, they need to constantly update the exchange rate between CNY and PHP at banks.
You can refer to the exchange rates at 21 major banks with currency transactions such as Metrobank, Security bank, CIMB Bank, Eastwest bank, Union bank, Bank of commerce,….
Where to exchange Philippine Peso to Yuan?
You can go to locations of 21 banks across the country that have renminbi transactions that you specifically mentioned above to change to Philippine Peso or vice versa.
Or you can also exchange at gold shops, border gates, airports, and transaction points.
In addition, you can also exchange PHP into CNY or vice versa at gold shops and money exchange shops. However, you should choose a reputable address to limit your risks.
How to distinguish real and fake yuan?
When you use the Chinese Yuan, there are a few points to keep in mind to distinguish fake Chinese Yuan:
• Should get new money, when tilting the light, the watermarks appeared clear and sharp
• Observe the bill for image smudges? Real money can not be used for a long time, but the prints are very thin, not thick and smudged like counterfeit money.
• Touching Mao Zedong’s collar lightly, you must feel the hand lightly, and that is the feeling is real money.
Hopefully, through this article will help you get information about RMB from denominations, rates, exchange locations as well as exchange rates and especially help you know how to convert from How much PHP currency is 1 yuan.