Question:
ATTENDTION!!!!!!!!! GOOD ANSWERS WOULD BE REWARDED BEST ANSWER
Answer:
¥ is officially used by both currencies, so it has to be specified as to which is which. ¥ is more internationally recognized to represent the Japanese Yen, hence most reputable news sources such as Bloomberg would denote Chinese Yuan as CNY or RMB¥ instead of just a ¥ sign.
There is also a single stroke variant of the ¥, which is used to represent RMB to avoid confusion.
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