Renminbi

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/renminbi

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. Who wrote Renminbi?The People's Bank of China
2. What is the official name?Renminbi (RMB)
3. What is the basic unit of account?Yuan
4. What is Renminbi and how is it used in China?Renminbi is China’s official money, and the unit used for prices is called the Yuan. It lets people buy and sell things in everyday life.
5. Why is the name "Renminbi" important?It means "people’s currency," showing that the money belongs to everyone in China.

Legal Tender: Money that must be accepted by law for the payment of debts.
Convertibility: The ability of a currency to be freely exchanged for other currencies.
Reserve Currency: A foreign currency held in significant quantities by central banks as part of their foreign exchange reserves.
Special Drawing Rights (SDR): An international reserve asset created by the IMF to supplement the official reserves of member countries.