The Real Value of Chinese Yuan
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The romanised symbol is ¥ while in Chinese it is also written with the character 元. As of August 2008, 100 Chinese Yuan (RMB or CNY) equals to 14.5811 USD, 9.71331 EUR, 15.5370 CAD, 16.3896 AUD, 7.59939 GBP or 1,602.14 JPY.
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Many economists believe that Chinese Yuan has become undervalued in the international currency exchange market. Chinese exports is costing too little in international markets, and imports from abroad is costing the Japanese too much. Chinese Yuan is slowly appreciating against the US Dollar and other major currencies of the world during the past two years.
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