“Kathleen, what is the difference, if any, between the yuan and the renminbi? I think they are one and the same, yes? Gracias.”
–Angela C., United States
Renminbi is the name of the Chinese currency as a whole, while yuan is used to reference a unit of that currency. For example, you get 5 yuan back in change, not 5 renminbi in change.
Currency exchanges are between dollars and renminbi.
The parallel is Britain’s pound sterling and the pound.
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