Listen to this articleRMB is the legal tender of the People’s Republic of China, and the People’s Bank of China is the country’s competent authority for renminbi management, responsible for the design, printing, and issuance of the RMB.
Renminbi banknotes and coins are in circulation at the same price and have unlimited legal indemnity, that is, all public and private debts within the territory of the People’s Republic of China are paid in Renminbi, and no unit or individual may refuse to accept it.
6.7 RMB = 1 U.S. Dollar, 9 RMB = 1 British Pound, 20 Yen = 1 RMB
