Yugoslavian Convertible Dinar (1990–1992)

The Chinese yuan, also known as the kuai, is the official currency of the People's Republic of China (PRC). The yuan is subdivided into 10 jiao, each of which is subdivided into 10 fen. The yuan is issued by the People's Bank of China, the monetary authority of China. The yuan is also sometimes referred to as the renminbi, which means "people's currency". The word "yuan" literally means "round", and is used to refer to the coins of the Chinese currency. The yuan is sometimes also referred to as the "kuai", which is the Chinese word for "dollar". The yuan was first introduced in 1912, replacing the earlier silver dollar coins. The yuan was initially pegged to the US dollar at a rate of 1 yuan = 1.5 US dollars. The peg was maintained until 1949, when the yuan was devalued against the US dollar. Since 1949, the yuan has been pegged to the Chinese renminbi, which is the official name of the Chinese currency. The renminbi is also sometimes referred to as the "yuan". The yuan is convertible into foreign currencies, but is not freely traded on international currency markets. The yuan is subject to restrictions as to its convertibility into other currencies. The yuan is the ninth most traded currency in the world, with a total value of US$1.06 trillion in 2016. The yuan is also the second most widely held reserve currency, after the US dollar.