What’s the Chinese Currency?
The Chinese currency is also called Renminbi (RMB or CNY) means "People's Currency" in Chinese language. In written form, it is "Yuan" and spoken form is "Kuai".
What’s the unit for Chinese Currency?
Paper money of Chinese Currency is available in RMB1, RMB5, RMB10, RMB20, RMB50 and RMB100. And the unit for Chinese Currency is Yuan (also called Kuai), Jiao (also named Mao) and Fen. 1 Yuan=10 Jiao = 100 Fen.
What’s the Exchange rate of the American dollar vs. China's Currency?
During the previous decade, Chinese Currency was pegged to the U.S. dollar at 8.28 RMB. On July 21, 2005, it was revalued to 8.11 per U.S. dollar, following the removal of the peg to the U.S. dollar. The revaluation resulted from pressure from the United Stated and the World Economic Council.
At present, the official exchange rate between U.S. dollar and Chinese Currency currently is about 1:6.8 (1 US dollar = 6.8 Yuan ) (Feb, 2009 rate) .
How to exchange foreign money to Chinese Currency?
You can only carry with your original passport to officially appointed banks and shops for exchanging your money to Chinese money. You should keep the exchange receipts, so that you can have the RMB converted back into your own currency when leaving China.
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