The ‘Renminbi’ is the official currency of the People’s Republic of China. It was introduced in the year 1949 by the Communist People’s Republic of China. The ‘Yuan’ is a unit of the Renminbi currency. Forex traders in order to avoid the confusion started considering the 1 Chinese Yuan (CNY) as their point of comparison or benchmark for its successful conversion into a different foreign currency. In the past year, no significant rise or fall has been recorded for Yuan to INR exchange rates. But one cannot rely on such stable figures. Economic and political conditions of countries keep changing time and again. These conditions have a linearly proportional effect on foreign currency exchange rates. During such circumstances, it would be a smart move to look for better rates of RMB to INR on BookMyForex or any other reliable online money exchanger.

Reliable China currency to INR exchange
Generally, there are two standard ways of getting foreign currency exchanged. The first method is to approach your local bank that also specialises in forex. When you opt for a bank, you must make sure that you already have an established relationship with the bank. The second and the most convenient option is to go online. Online money changers like BookMyForex can offer you the best Yuan to INR or INR to Yuan exchange rates.

Planning and prediction
Foreign exchange is carried out for multiple reasons. If you are an Indian based out of China and wish to send money back home, you will need rates where the valuation of INR is high compared to RMB such that your folks benefit more. If you are visiting China for a professional/personal reason, you will be in search of rates and mediums that will help you make the most of your trip and not worry about expenditures. Smart travellers never opt for last minute foreign currency conversions at the airport. You should always search for rates (in this case, INR to Yuan or Yuan to INR) online. This will help you have a plan and devise a budget keeping the expenses in mind. The forex card is advisable when you are travelling to China or any other country for that matter. It is basically a travel prepaid card that will work like any other debit/credit card. It will save you from falling prey to exorbitant interest rates that banks generally charge while a debit/credit is swiped somewhere.

Note: BookMyForex is an established online money exchanger, approved and authorised by the RBI (Reserve Bank of India). It is aided with a technology infrastructure that will compare rates with various banks and money changers and offer you the best RMB to INR rates. And Not just the Chinese Yuan, BookMyForex offers incredible exchange rates for other currencies such as Saudi Riyal to INR as well. You can place your order within the comfort of your home. It will be delivered at your doorstep within the specified time.

Author's Bio: 

BookMyForex is the World’s first online marketplace for currency exchange and international remittance.