Abstract: The present invention achieves both reducing a friction coefficient of a metal ring and improving a durability of the same provided to a metal belt of a continuously variable transmission. A continuously variable transmission belt supports a plurality of metal elements to a metal ring assembly obtained by laminating a plurality of metal rings, and is provided with an uneven surface having a plurality of projecting portions and a plurality of valley portions formed between the plurality of projecting portions on an inner peripheral surface of the metal ring of an innermost periphery. A low-friction coefficient layer having a lower friction coefficient on a surface thereof than a friction coefficient on a surface of the projecting portion is formed on the valley portion on the uneven surface. The low-friction coefficient layer can be a layer having a fluoridated layer or a DLC layer.