The renminbi, also known as the Chinese yuan, is the official currency of the People’s Republic of China. It is the most traded currency in the world after the US dollar and the euro. The renminbi is a closed currency, meaning that it is not freely convertible on the international market. However, there are a number of ways to buy renminbi, both in China and abroad.
One of the most common ways to buy renminbi is through a bank. Most major banks offer renminbi exchange services, and the exchange rate is typically set by the Chinese government. Another way to buy renminbi is through a currency exchange broker. Currency exchange brokers typically offer more competitive exchange rates than banks, but they may also charge a fee for their services.
