Renminbi (CNY)


Official issuance start: On December 1, 1948, the People’s Bank of China issued the first set of renminbi; by 1951, nationwide currency unification was completed, making it the only legal tender of the new China
Counting from 1948: has existed for 78 years
If calculated based on the nationwide unified legal tender in 1951: 75 years
Considering only everyday groceries and clothing (CPI): depreciated by about 87%;
Including real estate and the total amount of all social money (M2): depreciated by about 95%~96%, and is in the same order of magnitude long-term depreciation range as the U.S. dollar (97%) and the British pound (99.7%).
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