The Renminbi (RMB) is the official currency of the Peoples Republic of China. The yuan is the basic unit of the Renminbi, but the word is also used to refer to the Chinese currency generally. The terms yuan and Renminbi are often used interchangeably, with Renminbi referring to the official currency and yuan representing the primary unit of the currency. The currency symbol for the yuan unit is ¥, but when distinction from the Japanese yen is required, RMB or ¥ RMB is used. However, in written Chinese contexts, the Chinese character for yuan or, in formal contexts, yuan or yuan is used instead of a currency symbol. The Renminbi is the worlds 5th most traded currency as of April 2022. The Chinese economy relies on its two-currency system to regulate the exchange rate of its money and maintain control over foreign investments. The Chinese Renminbi (RMB) is used for domestic transactions within Mainland China, whereas the Chinese Yuan (CNY) is used for international transactions outside the mainland.