Rmb Deposit Rates by Country
RMB Deposit Rates
The Renminbi or RMB is the official currency for the country of the Peoples Republic of China. The RMB is the abbreviation of of Ren Min Bi, which in chinese(Mandarin) is the 'People's Money'. The CNY or Yuan is the base unit for RMB, this be compared to the Dollar unit in USD. CNY rather then RMB is used in the foreign exchange market.
CNY and CNH Deposit Rates
Due to the process Renminbi liberalisation and regulation in China, the onshore and offshore trades and settlements of the currency have been decoupled. This decoupling of the CNY(Onshore Renminbi) has led to the new currency code of CNH (Offshore Renminbi) and as at 2011 spreads have occured between the two.