Designation yuan (Yuán). Currencies of the world - designations

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

One of the symbols of the country, as well as a sign of the strength of the state in economic terms, is its monetary unit. For the world community, each of the currencies has its own meaning and designation. The market economy of the whole world is tied to some major monetary units. We are talking about the US dollar, which largely determines the pricing policy, the euro, the basis of European markets. China and its monetary unit are also quickly breaking into the world economy. The yuan currency has long been in use in this country.

Introduction of the modern yuan into use

The beginning of the existence of this currency can be traced back to the nineteenth century, but now the yuan determined its more modern status in 1948, when at the same time the controlling body of monetary use, the People's Bank of China, was created, and the country's single monetary unit was recognized.

Graphic yuan symbol

But another stage in the development of Chinese money was the second monetary reform, in 1955, which resulted inits first graphic designation. The yuan as a currency during this period acquired its symbol, which is still relevant today. Not surprisingly, its designation was adopted as the first Latin letter in the spelling of the name of this currency. In addition, parallel horizontal lines were added to the designation. Their goal was to create a distinctive effect from the Chinese character, which means "wreck, fork."

To define the Chinese currency, a rather simple graphic designation is used. Yuan is depicted in this way: Ұ. It is one lane provided for by the current rules, but this is only theoretically. In all places where it is necessary to define a currency as yuan, a symbol is used that is very similar to the Japanese yen, namely the same Latin letter, but with only two horizontal lines:. Such a connection arose due to the fact that the names of the Japanese and Korean currencies come from the original Chinese character, which has already been mentioned and which means "wreck, fork." Also, such a graphic nuance is explained by the settings in the software systems of computer technology. Simply put, the default is the Chinese SimSun font, where the character is represented with a single stripe. To still print it as originally intended, you must select the MingLiu font in the settings.

Features of using the graphic symbol of the yuan

There is also another feature of the designation of the Chinese yuan. It is accepted that all currency signs are indicated after the amount. But it is the yuan symbolis placed in front of it, which distinguishes it from the US dollar, euro and many other monetary units. An example of reflection would be to write the price on goods where they are indicated in this way: 34 if the purchase costs 34 yuan.

In addition to the graphic designation of the Chinese yuan, there is another option for determining the currency without its actual presence. To bring all world norms into uniform standards, there is an organization that is responsible for determining all international indicators in one system. The International Organization for Standardization, abbreviated and more recognizable as ISO, has also created a standard for designating the monetary units of the world when conducting foreign exchange transactions. ISO 4217 defines a three-digit numeric code for a currency when it is bought or sold for the purpose of settling global financial markets. The first two characters indicate the country where the currency is issued, the third character shows the name of the currency, mainly the first letter. The international designation of the currency "yuan" looks like CNY, that is, CHINA YUAN.

Additional yuan letter designation

The Chinese yuan is also known as the renminbi, which is more understandable to the Chinese as the "people's currency". Such a name also could not remain unmarked, therefore there is a designation different from CNY. Yuan is also written as RMB - from Renminbi. The first variant of the literal reflection is more often used, since this sign of the yuan corresponds to the officially approved name of the currency. As for the secondencodings, then the decoding "people's money" and in calculations is more used only in the Chinese economy.

Digital version of the yuan designation

There is also a digital designation for coding during currency transactions. It is customary to display the yuan as a number equal to 156. Information about this code is useful for bank employees, accountants, economists, and all those who carry out operations in this monetary unit in operating programs. It is in this way that currencies are displayed in digital analogues of documents. Simply enter the code 156 - and immediately next to the amount the name of the currency or the letter designation of the Chinese yuan will be displayed. This spelling helps to simplify the maintenance of financial documents and reduce possible errors when displaying the monetary units of the world.

Universal symbol of world currencies

There are different currencies of the world, the designations of which are widely known. Each of them not only systematizes the entire money market, but also contributes to the efficient conduct of transactions between enterprises of different countries, as well as the consolidation of economies. In addition to codes, symbols, signs of monetary units of specific states, there is also a symbol that is accepted as a universal sign for designating any currency. It is mainly used when a transaction is made in a rarely used monetary unit or one that does not have its own designation. This graphic symbol looks like this: "¤". It first appeared in the world economy in 1972. At that time it was decided to useto replace the familiar sign of the American dollar in the process of generating financial statements on a computer. It was originally planned that it was $ that could play the role of a universal character. That is why the Europeans used a different sign, as they were very opposed to the fact that the dollar with its designation would come to the fore. In those days, in the first software systems, even the universal currency sign and the dollar sign had the same encoding in ASCII. But after some time, nevertheless, for "¤" its own code was introduced in the Unicode code table.

Thus, it was decided to use "¤" as a universal sign of money. In order to determine and specify in what currency this or that operation is carried out, it is necessary to carefully study the full text of the document, where the designation for all currencies is used, that is, the entry of the “¤” sign with a digital symbol means the sum of units of a certain currency equal to these numbers.

Instead of output

Signs are always and everywhere present in the life of any person. Monetary symbols are no exception. Each of them carries a semantic load. The Chinese yuan is also no exception, like all currencies of the world. Their designations have their own meaning, and also, as experts in the popular Feng Shui teaching in this country can say, the impact on the development of the entire economy of the state and its prosperity. The current overall success of almost all industries in China makes it clear that the currency symbols were chosen correctly.