Indian Foreign Minister S.K. Jaishankar reached China and met President Xi Jinping.
The country’s Foreign Minister S Jaishankar has reached China. He participated in the Shanghai Cooperation Organization (SCO) Conclave in China. President Xi Jinping and Foreign Minister Wang met Yi. This is the first time after 2019 that Indian Foreign Minister has reached China. Manufacturing and exports in China’s economy is the biggest role. The currency here is also special.
The value of currency of any country depends on many factors including its purchase capacity, export, foreign exchange reserves. The relations between India and China are improving. The Kailash Mansarovar Yatra starts the relations between the two countries. Let us now know how much 500 rupees of India go to China.
How different is China’s currency?
The official currency of China is named Ranmanbi. It is also called Chinese Yuan. This is its most popular name. Just as the word INR is used to write Indian currency and ₹ insignia is used to show the rupee. Similarly, the word CNY is used for Chinese currency. Chinese Yuan is written in short form.
The work of controlling the Chinese yuan is the Republic of China. This releases the Chinese currency and tells the rules related to it. China’s currency is counted among the fifth largest business currency in the world.
How much do 500 rupees of India become in China?
There is a lot of difference between India and China. 500 rupees of India come to China and become 41.77 Chinese Yuan. It tells how much difference is there in the currency of both countries. The currency of any country will be strong or weak, many factors work behind it. Now let’s understand this too.
The word CNY is used for Chinese currency.
The currency of a country is strong or weak, how will you know?
The currency of a country is weak or strong, shows many factors. The first is the exchange rate. The lower the exchange rate of the currency of a country, the more weak it is considered. How big reserve of foreign currency is near a country, it also helps in making the currency of that country stable and reliable.
China’s Forex Reserve ie foreign currency reserves are many times more than India, hence Chinese Yuvan is said to be stronger than India. Apart from this, inflation also shows how strong the currency is. Low inflation currency is considered strong because the strength of its purchase does not decrease over time.
In global trade, the country whose currency is high in demand is more powerful. For example, US dollar is the strongest currency because the most transactions are done in this currency worldwide. Apart from this, stable economy, reliable banking systems and attractive interest rates for investors also work to strengthen it. In this way many factors work to strengthen the currency.
Also read: Why did Aurangzeb start hating Jaisingh, who won the Mughals?