noun
- the official currency of the People’s Republic of China
Usage: often abbreviated as RMB
Examples
- The renminbi has strengthened against the dollar this year.
- Foreign investors can now hold renminbi-denominated bonds.
- China’s central bank controls the exchange rate of the renminbi.
- The renminbi became part of the IMF’s special drawing rights basket in 2016.
- Many economists predict the renminbi will become a major reserve currency.
- Tourists can exchange dollars for renminbi at the airport.