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The renminbi (lit. "people's currency"; sign: 元, ¥; ISO 4217: CNY) is the official currency of the People's Republic of China.

The yuan is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts.

The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit.

One yuan is subdivided into 10 jiao, and a jiao in turn is subdivided into 10 fen.

A currency (from, "in circulation", from) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.

A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation.

Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency.

These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies.

Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies.

This includes all aspects of buying, selling and exchanging currencies at current or determined prices.

In terms of volume of trading, it is by far the largest market in the world, followed by the Credit market.

The main participants in this market are the larger international banks.

Financial centres around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends.

The foreign exchange market does not determine the relative values of different currencies, but sets the current market price of the value of one currency as demanded against another.

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.

The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment.

Any item or verifiable record that fulfills these functions can be considered as money.

A stored-value card is a payments card with a monetary value stored on the card itself, not in an external account maintained by a financial institution.

Stored-value cards differ from debit cards, where money is on deposit with the issuer, and credit cards which are subject to credit limits set by the issuer.

Another difference between stored-value cards and debit and credit cards is that debit and credit cards are usually issued in the name of individual account holders, while stored-value cards may be anonymous, as in the case of gift cards.

Stored-value cards are prepaid money cards and may be disposed when the value is used, or the card value may be topped up, as in the case of telephone calling cards or when used as a fare card.