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The official currency in China is the Renminbi (RMB or CNY).
The basic unit is the yuan which equals 10
jiao which is then divided into 10 fen.
It is possible to exchange traveller's checks
or cash at most banks and hotels.
Major credit cards such as Master Card,
Visa, JCB and American Express are accepted in major hotels and
department stores.
The Chinese currency is currently fixed to
the value of the US Dollar, so as the value of US Dollar changes
on international currency market, the relationship between the
Chinese Renminbi and the US Dollar remain the same.
Current Exchange Rate with U.S. Dollar: $100
USD = ABOUT 700 Yuan RMB
Chinese paper money usually comes in 1 jiao,
2 jiao, 5 jiao, 1 yuan, 2 yuan, 5 yuan,10 yuan, 20 yuan, 50 yuan
and 100 yuan. |