Chinese coins: names, descriptions. Currency RMB - Chinese people's money

Ten years ago, I would not have thought that I would want to go to China, then there was a strong opinion in my head that this was a third world country. But time passes, and everything has changed, China is almost ahead of the rest, the second economy in the world, after all. And last summer I spent a whole week in this country.

Features of the Chinese currency

The monetary unit of this country is the yuan. Translated from Chinese, it means "round coin". It is also worth knowing that this currency is the only one in the country. Now the rate of this monetary unit is not tied to the dollar, it is determined based on its relationship to several currencies at once. This "rule" has been in place in China for thirteen years. There is no protection on banknotes of a small denomination, and simply no one needs to fake them. There is also something that unites absolutely all bills - they have a portrait of Mao Zedong and the national emblem. Today, the yuan is considered one of the most popular currencies on our planet.

Money exchange in China

So, if you go to this country, then it is better to take dollars or euros with you. You can exchange them at:

• hotels;
• international airports;
• the main branches of the Bank of China;
• at railway stations.

For example, if you perform this operation at a hotel, then only a passport will be required from you, no documents need to be filled out. But there are also disadvantages: as a rule, the rate in a hotel is not always the most favorable. And in banks, such a procedure can take several hours, and you will still need to find a person who at least somehow speaks English.

If you are not sure that you will spend all the yuan, then just keep the checks so that later you can change them back to dollars or euros. Also in this country there are so-called "black money changers". But I do not advise you to contact them, because if the police catch you on this case, they can easily put you in jail. Also, these comrades will not blink an eye and slip you counterfeit money. Of course, in this state they also accept plastic cards Visa, Master Card.

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It is strange to live in Russia and not visit China, because not every country has such a neighbor! Now this is quite easy to do, especially for residents of border cities like Khabarovsk. You can exchange various currencies for the Chinese yuan not only in China itself, but also in other countries. Still, it is the currency of the most populous country.

Features of the Chinese currency

One yuan is now equal to 10 rubles, which is very convenient for converting Chinese prices into our usual ones. One yuan bills are small in size and quite suitable as souvenirs. I gave them to my friends in Russia when I returned from China.

While in China, it is useful to look at what old Chinese banknotes looked like, for example, the 1980 series.

Banknotes then depicted representatives of the main ethnic groups of China, from the Manchus and Koreans to the Zhuangs ( distant relatives Thais) and the Miao people. The most big bill then there was also 100 yuan, and it was decorated with portraits of participants in the "Long March" and a picture with the place where it began on the reverse side.

On modern banknotes you can see such beauties of China:

• Potala Palace in Tibet.
• Palace of Congresses in the capital.
• Mount Tan Shan. Its height approximately corresponds to Roman-Kosh in the Crimea - 1545 meters. It was on it around 220 BC. first proclaimed the unification of China.

Thus, the study of Chinese banknotes allows you to better understand the past of the country and its attractions.

What currency to take to China

For border areas, the ruble or tenge is suitable if you enter from Kazakhstan, but the best, of course, are stable currencies like the euro and the dollar. China for last years for our man has risen in price due to devaluation.

RMB prices are as follows:

• Bicycle rental - 20.
• Bus ride (old, new, long distance) - 1, 2 and 5.
• Taxi for landing - 8.
• Entrance ticket to the intermediate level museum for adults - 10.
• Language courses for 18 weeks - 4000.
• Kebab in Muslim quarters - 2.
• A dish in a local cuisine cafe - 10.
• Bed in the hostel - 25.
• Overnight at the hotel - 100.

In general, getting to know China can be even cheaper than a trip to Russia.

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As you know, China was the first country in the world to invent paper money. They appeared there 1000 years earlier than in Russia. For people who are interested in numismatics, bonistics and currency, China is just the perfect country to visit. Yuan is interesting both modern and from a historical point of view.

China's currency is one of the best in the world

Our ruble is unreliable, as it is getting cheaper almost all the time, but the yuan is suitable for savings, those who managed to buy them in 2014 are not afraid of the crisis. If five years ago it cost about 5 rubles, now as much as 10! By the way, it has become very convenient to count, just all prices in China must be multiplied by 10.

In addition to China, the yuan is actively used by such countries as:

• Mongolia. It is about as popular as the Thai baht in Laos.
• Vietnam, border areas.
• Northern Myanmar. There are a couple of areas where the government controls almost nothing, the separatists use the yuan instead of the useless kyat.
• DPRK. In fact, the second currency of the country.
• Zimbabwe. They have their own currency depreciated for disgrace, so they use the yuan, the dollar and the Rand of South Africa.

A foreigner in China can make good money in local currency, for example, by playing the guitar or exchanging yuan for rare small denominations like the Somali shilling and old Belarusian rubles.

The appearance of the currency of China

We have various historical figures drawn on the rubles, and on the yuan - only the founder of the PRC - Comrade Mao. In this sense, they are similar to the Moldovan lei, Vietnamese dongs, Laos kips, Thai bahts and North Korean wons, where there is also one historical figure drawn, the ruler of the country. The reverse of the banknotes depicts various sights of China, for the most part, natural: mountains and lakes. The 50 yuan banknote depicts the famous palace in Lhasa, while the largest banknote depicts a typical socialist realist building, the house popular assemblies in the capital.

The largest bill of 100 yuan corresponds to 1000 rubles, which is not enough. After all, Russian rubles come in 2000 and 5000, and in Belarus after the denomination the largest bill is 1500 rubles.

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China is very distinctive in its culture and even Everyday life- this is known to many. But he distinguished himself even with his currency, I studied this topic in detail when I was going to go to the Middle Kingdom. The peculiarities of Chinese money can confuse inexperienced tourists, so it’s worth finding out everything in advance before the trip.

Currency in China

Interestingly, the currency in China has not one, but two names at once. The first, and more familiar to us, is the "Chinese yuan". By the way, the very word "yuan" is translated into Russian as "something round". The international designation of this currency is CNY. The second name may have to be read twice to get it right - renminbi. "Renminbi" is translated as "people's money" or "money of the people", and abbreviated as RMB. These two abbreviations are traditionally considered synonymous, although there is still a difference in them. Yuan can mean money in general (for example, the Chinese can safely call the ruble as "Russian yuan"), and renminbi is common name currencies. In any case, you can see any of the designations in the banks.

What currency to take with you

At first it may seem that the answer is obvious - rubles. But it's not that simple. Often, having arrived in China, poor travelers find that it is almost impossible to change the Russian currency there. Of course, you can always exchange them at the Yabalou market, but you still have to drive to it, and they only accept payment in Chinese currency. So, it is best to stock up on dollars or euros.

Maximum bill

Interestingly, the highest denomination in China is 100 yuan. This is very, very little, since for large purchases you have to carry wads of cash with you. The exact reason why the authorities do not introduce banknotes of a larger denomination is not known, but there are a couple of assumptions:

• containment of inflation;
• a measure against corruption (still, you can’t carry a bag with you!);
• in order to avoid the hostility of the poorest segments of the population.

Finally: do not change money at airports. I hope that what I have said will contribute to a comfortable stay in China.

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I have an interesting relationship with money: when I have it, I buy everything at once. You can’t change anything, a woman is so arranged, and without shopping there won’t be Have a good mood. Today you will learn a lot of interesting things about a currency that is difficult to convert and pronounce correctly is also not easy.

China and the national currency

I admire the Chinese. They know how to fake everything, and they also know how to build strong families where there are many children. The Chinese currency is considered no less interesting. Whatever it was called: renminbi, kuai, jiao.

To completely confuse the world, the Chinese calculated the currency by importance, each bill had its own name. It was difficult for a tourist to understand. Now there is no such problem. For yuan, you can buy whatever you want if you come to the People's Republic of China.

Dynasty money

In fact, the yuan is not a young currency. It appeared during the reign of the Yuan Shi dynasty in 1835. Even earlier, the Chinese paid off with gold bars. Only then did voiced coins appear, which were called liang. And the yuan began to be issued in the form of silver coins. The inhabitants of the Celestial Empire still continued to pay in foreign currency. Only in the 20th century did the Chinese get used to their money. Then smart people began to call the currency Chinese dollars, because the value of the yuan depended solely on the dollar.

Chinese salaries

Currency is a tool to achieve desires. The Chinese also love money, but they live differently. It all depends on the type of activity.

• programmers (2000 thousand dollars);
• models of European appearance ($1,000);
• doctors ($700);
• simultaneous interpreters ($600);
• technologists ($600);
• financial analysts ($500).

Indicated in dollars to make it easier for you to perceive the information.

The amounts are indicative, because the salary depends on the region and the company where the person works.

If you come to China and want to exchange rubles for yuan, you will lose time. It is better to change dollars (exchanges at every step). Yet Golden Rule: do not change money at railway stations and airports.

After living in Beijing for a year, I was never able to comprehend the mentality of the Chinese. I took off the skin, but did not try the fruit itself. Superficially got acquainted with the culture, language and way of life of this beautiful and terrible country of contrasts. But what I really had to figure out was the local currency. Why did it turn out like this interesting and important, read below.

Yuan - currency of China

AT modern China still strong concept We”, and in its shadow shrank modest“ I". We are the people, this is collectivism as a reproach to individualism. Money is a reflection internal movements in the country. Did you know that currency of the People's Republic of China called " money of the people" or " jenminbi» ( RMB, 人民币)? Representative unit - yuan (元).

If you want to see yuan exchange rate to ruble or let's say to US dollar, then indicate it international designation - CNY.

The people need leader, tribune, in other words, leader. For Republic of China became a leader, was and remains - Mao Zedong. Where do you think you can see a portrait of a politician? Of course, on the front side of banknotes all denominations from five before one hundred yuan. By the way, one hundred yuan is the largest bill, so if you have withdrawn several thousand, can you imagine what an impressive pack you will have in your hands?

What is the yuan made of?

« money of the people» conditionally can be divided into banknotes, coins and electronic payment systems.

Banknotes- this is:

• yuan(kwai - sometimes you can hear it on the street);
• Jiao(mao - the seller of sweet patata on the street will tell you). 10 jiao = 1 yuan;
• Feng. 10 feng = 1 jiao(this unit is a thing of the past; in reality, nothing can be bought for it for a long time).

Not many coins and this:

• 1 yuan;
• 1 and 5 jiao;
• 1, 2 and 5 fan.

Electronic money accounts(incredibly convenient for storing money and paying for services online): Alipay andwechat.

Chinese attitude towards money

When I lived in China, I was very surprised two traditions, Related money. Common and most requested gift in Chinese New Year- this is red envelope with a wish inside which lie yuanand. There is a concept in the country ritual money". it artificial banknotes that participate in the burial ceremony.

On the one hand, people care about their spirit and development, which is dictated by their religion and traditions, but on the other hand, money still turn out in priority.

Maybe that's why today andyongminbi- one of the most stable currencies at the expense strong state economy and increase industrial turnover of the country. Russia and China plan to transfer all bilateral relations to yuan, in order to avoid using the dollar as an intermediary currency.

Finally a small life hack: if you are going to China, then you can take dollars and exchange them for bank, at hotel or withdraw money from cards(Visa, Mastercard, American Express and etc). It is not even worth trying to exchange rubles.

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CNY - official currency People's Republic of China. The name of the currency - yuan, is used only abroad. It is translated into Russian as "round coin" or "circle". internal name currencies - renminbi or, as is customary in Latin spelling, Renminbi, which translates as "people's money". The ISO code for the Chinese Yuan is 4217, the official abbreviation is CNY.

In the All-Russian Classifier of Currencies, the national currency of China was called:
- Chinese yuan (from 26.12.1994 to 01.01.2001);
- Renminbi yuan (from 01/01/2001 to 02/01/2007);
- Renminbi yuan (from 01.02.2007 to 2009);
- yuan (from 2009 to the present).

One yuan is made up of ten jiao, and one jiao is made up of 10 fen. For example, an amount of 3.75 yuan would sound like 3 yuan, 7 jiao, 5 fen. In popular pronunciation, kuai is more often heard instead of yuan, and jiao is replaced by mao.

Currently, yuan is in circulation in the form of the following denominations: 1, 5, 10, 20, 50 and 100. Jiao is also issued in denominations 1, 2 and 5. The country also has coins in denominations of 1, 2, 5 fen, 1.5 jiao and 1 yuan. The yuan is issued by the People's Bank of China.

In the administrative regions of the PRC, Hong Kong and Macau, as well as in the province of Taiwan, their own currencies are in circulation:
- Hong Kong dollar;
- pataca Macau;
- Taiwanese dollar.

Despite the fact that these territories belong to China, all settlements in these regions are carried out only in their own currency, and the Chinese yuan is considered from the point of view of currency regulation like a foreign currency.

China is the second largest economy in the world. Huge productions various companies from all over the world are in China. And therefore very a large number of money goes in yuan. In October 2013, they became the most popular currency in world trade after the dollar. Most often, the Chinese currency is used in international settlements in China, Hong Kong, Singapore, Germany and Australia.

China has financed the US budget deficit for about eight years, spending a total of about $900 billion on Treasury bonds. If now the PRC sells them, the dollar faces an imminent collapse. Using the current situation, China seeks to achieve its main goal- make the yuan a global currency. In the event that the yuan receives the status of a reserve currency, the rules of the game in the world market will be set by China, not the United States.

One of the first attempts to export the yuan was made by China when it issued government bonds, which later became one of the reserve assets for the Asian Bond Fund 2. A market for yuan-denominated private bonds, nicknamed Dim Sum, is also emerging. In early 2010, China allowed non-financial companies to issue bonds in yuan. One of the first non-Chinese non-financial companies to take advantage of this opportunity was the American corporation McDonald's.

Another move to globalize the Chinese yuan was the launch of the China Foreign Exchange Trade System in Shanghai. This system is a platform for the interbank foreign exchange market, where the yuan is traded in exchange for other world currencies. The trading volume on this site reaches $37 billion daily. Another important initiative in this direction was the launch in 2009 of a pilot project in which several dozen Chinese companies received permission to use the yuan for trade transactions outside of China.

The Chinese government plans that in the coming years (according to various estimates in 2015-2016) the yuan will become a convertible currency. This will be another step towards the liberalization of the economy and its transfer to a market economy.

The yuan, following the Chinese economy, is increasingly significantly increasing its importance in the world. Let's see what factors determine the global outlook for the Chinese currency.

Correct currency name

Yuan - this is how Chinese money is called in the world. This name, however, does not quite correspond to the sound of the national currency in China itself. At home, Chinese banknotes are called nothing more than "renminbi" (in translation - "money of the people"). And the yuan is just a noun, meaning money in principle. But the brevity and euphony of this Chinese word turned out to be to the taste of the rest, especially the Western world.

In ISO standards, the official currency designation is CNY. One yuan (“renminbi”) is equal to one hundred fen (their name inside the PRC and in the rest of the world is the same). In turn, "penny" can be combined into jiao - ten times the equivalent (like "dimes" in the US). So, PRC money is classified as follows: 1 yuan is equal to 10 jiao, which is identical to 10 fen. However, in practice, it is difficult to find a “penny” in Chinese stores, since they are withdrawn from circulation. The most common cash coins are one or five jiao. Also in the "metal" there are single yuan.

History of the yuan

Story monetary circulation in China is several thousand years old. The hieroglyphs denoting the words "goods", "purchase", "sale", "exchange" and associated with them in meaning are found in sources reflecting the times of ancient times. The first money in our usual sense appeared in the state in the 5th century BC. e. First, in the form of bronze ingots (or in the form of the simplest household items - a shovel, a knife), then

Money in the period corresponding to the European Middle Ages, along with copper samples, was supplemented with an iron and lead format, and paper banknotes also came into circulation. Over time, Chinese money underwent "silver" standardization, and at the beginning of the 20th century - "gold". When the communists came to power, the People's Bank of China was established. All the money that the population had in circulation was subject to seizure and exchange for the renminbi - the new Chinese money, the very "people's banknotes". The issue of the new currency was strictly controlled by the state.

Exchange rate policy

Until 1974, the Chinese yuan was traded, as a rule, with a reference to the pound sterling, but then quotes began to be applied to the US dollar. In 1994, the country's government initiated a freeze of the yuan against the American banknote at a ratio of 8.27 renminbi to 1 "buck", which lasted 11 years. This caused discontent among some of China's trading partners, including the United States. The Chinese authorities began to come under pressure to liberalize their monetary policy, as, according to representatives of other countries, due to the low exchange rate of the yuan, China received an advantage due to purchasing power. This state of affairs was partly confirmed by the figures: the negative US with China in 2004 exceeded $160 billion, and in 2005 its increase continued. But in the same year, the Chinese government canceled the “freeze” of the exchange rate. True, as some experts note, from that moment on, the yuan was not allowed to float freely, and its rate could be artificially underestimated.

Yuan and ruble

close economic cooperation between Russia and China every year impresses more and more. Chinese money, their name and pronunciation features are not new for the Russian Federation. Moscow and Beijing organize joint work in many global areas, so interaction in the field of currency regulation plays an important role in trade cooperation between the two countries. Now the ruble and Chinese money are claiming hypothetical inclusion in the list of reserve currencies, but so far this has not happened in practice.

In recent years, there has been a trend - mutual settlements are not in dollars or pounds, but in national banknotes. In 2010, the ruble began to be traded on and the yuan, in turn, on the MICEX and RTS sites. National regulators have different principles impact on trading. The Central Bank of China has a hard limit on fluctuations of the yuan on the stock exchange within 0.5%. The Bank of Russia, as a rule, influences trading using the yuan. Among traders, there is a growing interest; thematic portals appear where you can quickly transfer Chinese money to Russian at the current rate.

The prospects for investing in yuan

Many experts believe that the yuan is undervalued against world currencies, so it makes sense to invest in the Chinese banknote with the expectation that it will rise in price in the foreseeable future. As the practice of currency trading shows, the yuan, if it grows, is not as fast as investors would like. For example, with regard to the ruble, experts say, the renminbi in recent times showed an average annual growth of about 8%.

Approximately the same benefit can bring a regular bank deposit. Financiers recommend investing in yuan only in some cases. Firstly, it is advisable for regular trips to China. Secondly, the yuan can be considered as a "reserve" currency for portfolio diversification. Thirdly, on the terms of Russian banks, they may well be of interest to the Chinese themselves, who come to Russia for the purpose of tourism or business.

Yuan and dollar

The relationship between the yuan and the main world currency obviously depends on how things develop in friendship between the issuing countries of this money. One of the factors is that China keeps the bulk of its financial reserves in dollars. Much depends on whether the Chinese will continue to keep foreign exchange reserves within the existing structure or choose to diversify the portfolio. The head of the Central Bank of China voiced this idea at the official level - that the country's reserves cannot consist only of US dollars. Information has appeared in the press that China is going to sell about 2 trillion "bucks" of the available 3.04 trillion in favor of transferring it to other assets not related to the American "green". Some experts believe that the PRC authorities are just trying to negotiate preferential terms for the yuan and turn Chinese money into a reserve currency on a par with the dollar.

Yuan as a world currency

The intentions of the Chinese government to make the yuan one of the world's leading currencies, experts believe, may have fundamental grounds. Some financial analysts expect that in the next few years, the share of China's foreign trade settlements with other countries in yuan may exceed 30%. The evolution of this figure is impressive: now it is close to 20%, while four years ago it was 3%.

In the first months of 2014, according to financiers, the renminbi ranked 7th in the list of the most popular currencies in the world, overtaking, in particular, the yuan is growing in investment importance as China becomes more open to world markets. Recently appeared in London a joint project and the People's Republic of China - the settlement center for the organization of work with the yuan. Experts expect that Chinese money will become a significant currency at the global level, but it is not at all a fact that they will replace the dollar.

Yuan outside China

The PRC currency is beginning to be increasingly used in trading stocks, bonds and other financial instruments. This direction will develop the more intensively, the sooner the yuan can become a convertible currency. The renminbi is used in other states of the "Chinese" profile: Hong Kong (where the share of deposits in the currency of the PRC reached 12%, while in 2008 it was only 1%), Taiwan, and Singapore. The last two countries have offshore RMB trading centers. Recently the People's Bank of China and Central bank Germany signed an agreement on settlements in the currency of the PRC.

The political significance of the yuan

The PRC is recognized by many experts as the main engine of the world economy. Now China gives out, depending on the basis of calculation, 10-15% of the planet's GDP. The expansion of China's economic influence, and hence its influence on political processes, directly depends on the government's monetary policy. Financiers believe that the prospects for this direction depend on three factors.

• Firstly, it is internationalization - the use of currency as a tool for expressing value and making settlements in international financial transactions.
• Secondly, it is convertibility - the degree of restriction of capital flows and outflows.
• Thirdly, it is the use by foreign banks as a reserve currency.

How the PRC government combines priorities in these areas will determine the prospects for the yuan as an instrument of political influence.

The first official mention of paper money in China was recorded more than 4,500 years ago. The official currency, the yuan, appeared relatively recently, in 1948. December 1, 1948 the first banknotes were issued, and this date is also considered the day of the founding of the People's Bank of China.

Paper money

The very name "yuan" in Chinese means "something round". Today, this monetary unit is translated simply as "people's money." To date, banknotes of the 5th series are in circulation in the country. They are represented by banknotes in denominations of 100, 50, 20, 10, 5 and 1 yuan. The obverse of each bill of this series depicts a portrait of the most famous Chinese politician- Mao Zedong.

Banknote features:

1. The face value (1, 5, 10, 20, 50 or 100) must be written on the front and back.

2. On the front side, the denomination is written on Chinese and Braille. On the back - in zu, Mongolian, Tibetan and Zhuang.

3. Mandatory elements on each banknote are: year of issue, serial number, watermarks, coat of arms of the country, vegetable vignette.

4. If you run your finger through Mao Zedong's hair, you can feel an additional protective layer.

5. The reverse of each banknote depicts a landscape:

• 1 yuan - a view of Xihu Lake;
• 5 yuan - mountain view;
• 10 yuan - three rapids of the Yangtze River;
• 20 yuan - the Yellow River;
• 50 yuan - Potala Palace (Lhasa);
• 100 yuan - People's Congress Palace, located in Beijing.

In China, banknotes of the 4th series also rotate, namely: 2 yuan, 1 and 5 yao. Distinctive feature banknotes 1 and 5 yao - there is no portrait of Mao Zedong! They are also quite dilapidated, tk. their production was discontinued in 1997. On the banknote of 2 yuan, the obverse depicts 2 girls in national costumes, on the reverse - rocks in the South China Sea.

Coins of China

Chinese coins are represented by two types: jiao (yao) and fen. They are presented in denominations of 1, 2 and 5 fen, 1 and 5 jiao and 1 yuan. It is noteworthy that politicians are not depicted on the coins.

Fen coins have the denomination in numerals and hieroglyphs (1, 2 or 5) on the reverse, and the coat of arms of the People's Republic of China is depicted on the obverse. Feni are made of aluminum, so coins can be easily bent by hand.

On the back side the 1 jiao coin, issued in 2006, depicts an orchid, and the 5 jiao coin, issued in 2004, depicts a lotus. The most popular coin is 1 yuan, issued in 2002. A chrysanthemum is depicted on its back.

The exchange rate of the yuan against the ruble, dollar and euro

The Chinese currency rarely fluctuates because the government officially controls it. The international designation of the currency is CNY. The current course is:

1 CNY = 8,760 RUB

1 CNY = 0.155 USD

1 CNY = 0.127 EUR

What money to take with you to China

When planning a trip to China in 2018. several "monetary" nuances should be taken into account. So, experts from currencies advise taking dollars or euros. And although paying with them in China is prohibited by law, they can always be exchanged at any bank at the established rate.

You should have Chinese currency with you, but you should change it upon arrival in China. Why? Firstly, it is difficult to find yuan in Russia (if we are not talking about border areas), and secondly, the exchange rate is not always favorable. You should not take Russian rubles on a trip - it is almost impossible to exchange them for Chinese yuan.

How to profitably exchange currency in China

Do not exchange currency immediately at the airport. Exchange offices often set an unfavorable exchange rate, and in addition, they may charge an additional commission. The right option will exchange money at any bank. Please note that in commercial banks the rate may differ slightly from the rate set by the National Bank.

Important: after exchanging dollars for yuan, do not throw away the document confirming the exchange! It will be required in case of exchanging yuan for dollars / euros. Please note that bank personnel may not understand of English language. For exchange Money a document is issued that must be completed. The field names are written in Chinese and English.

Tips from tourists: when exchanging, ask for both paper money and coins.

A number of machines, especially in the southern part of the country, may not accept paper money. But the northern provinces, on the contrary, are not very fond of metal coins. In Beijing, paper banknotes and coins are equally accepted for payment.

Finally, we note that in Hong Kong, the local currency, the Hong Kong dollar, is in circulation. 1 Hong Kong dollar is equal to 0.82 yuan. You can exchange funds at any bank in Hong Kong. Also, "their" currency - "pataca" - is also common in Macau (special administrative region of China). 1 pataca = 0.80 yuan.

Many tourists who come to China get lost in monetary system The PRC is said to be quite complex and confusing. Since here, apart from yuan is there some more chiaoand mao(10 kopecks), and also hair dryer(analogue of a penny), and all the money is called renminbi!

Let's try to figure out how to handle Chinese change and how not to confuse yuan with pennies.

Yuan元, 圆 (yuan). This currency is also called kuai块("piece"). In fact, this is an analogue of our ruble - the most popular national currency in China. Yuan is issued in paper form (bills of 1, 5, 10, 20, 50, 100) and in the form of coins (1 yuan).

Jiao角 (jiao) or mao毛 (mao) is one tenth of a yuan or 10 hair dryer分 (fen). Jiao come in paper form for 1, 2 and 5 jiao (2 is extremely rare, collectors are even interested in them) and in the form of coins for 1 and 5 jiao. The fen has long been out of use in China, as inflation is rampant, and prices have long been such that you can’t spend a fen, so don’t take a fen for change!

This diversity often confuses foreigners. And, as everywhere else, you can see the complete collection of coins in any fountain - here they also like to throw coins for happiness and good luck.

Be careful, in Tibet (TAR) do not accept coins, it is not customary to use them here, so do not take coins for change, you will not be able to pay them anywhere!

Before the trip, check the exchange rate of the yuan in relation to your currency, this will help you not to be tempted by supposedly cheap Chinese goods, by calculating the exchange rate you will see that everything in China has long been expensive, much more expensive than at home.

In addition, remember that on the price tags for a weighted product, everything is indicated at a price per pound. one jin斤 is a special measure of weight in China. Therefore, when buying fruits, tea, and so on, multiply the price by two so as not to make a mistake in calculating the cost of the purchase.

Of course, bargain. Small traders on the streets always overcharge foreigners to try their luck. If you do not like haggling, buy food and things in stores where prices are set and indicated on price tags.

You can exchange currency for Chinese yuan at bank branches, for example, the Bank of China, as well as at airports and hotels. International credit cards are accepted in major hotels, restaurants and shopping malls. When paying credit card be prepared for special fees of 1-2% and no discounts.

There are problems with maps in Tibet: sometimes there is no connection, sometimes not every ATM accepts your card, so prepare enough cash for a trip in Tibet. And remember that after leaving Lhasa you will no longer be able to change the currency to yuan.

Come to China more comfortable with dollars. Of course, the euro will also be changed for you at the bank. But for a trip to Tibet, it is better to take dollars.