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English definition of “renminbi”

renminbi

noun [S or U]
 
 
/renˈmɪnbi/
MONEY the currency used in China: The word "renminbi" means "the people's currency". Its use is similar to that of "sterling" when referring to the UK currency. Yuan is the name of the main unit of the renminbi currency. You will find that "renminbi" is sometimes used when quoting prices, as in " two thousand renminbi", but this is not strictly correct, and you should say "two thousand yuan" or "two thousand renminbi yuan". The renminbi is fixed against the dollar.
→ See also yuan
(Definition of renminbi from the Cambridge Business English Dictionary © Cambridge University Press)
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