yuan and rmb

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Chinese Currency Explained: Renminbi vs. Yuan

Chinese currency has two names: the renminbi (RMB) and the yuan. The two are oft confused and used interchangeably. And this misunderstanding has amped up as of late...

You see, unprecedented action from China's central bank this week caused the biggest drop in Chinese currency in decades - and counting.

The move is all over financial news and noticeably sparked disparate "renminbi vs. yuan" use in headlines.

So now is a great time to take a look at exactly what is the difference between yuan and renminbi...