Currency in China

Currency in China

Сообщение! » 03 фев 2015, 14:39

Currency in China

Before traveling to China, it is necessary to know what currency is used in this country. The national currency is called China Yuan. In turn, the yuan has two fractional values: one yuan 10 jiao and fen 100. For example, the amount of 5.22 billion yuan will be referred to as 5 yuan 2 jiao and 2 fenya. Money in China are turning in the form of coins and bills. Coins are available in denominations of 1, 2, 5 fen; 1 and 5 jiao; 1 yuan. Banknotes are available in denominations of 1, 5, 10, 20, 50 and 100 yuan.
Yuan - the second most popular payment currency

It is worth noting that the Chinese yuan has gained a lot of popularity in 2013. According to Bloomberg calculations of the share of international currency was 8.66%. Thus, the Chinese yuan has bypassed this indicator euros - the share of payments for the same period, the euro was 6.64%. For comparison, in 2012 the proportion was only RMB 1.89%, while the euro - 7.87%.
What currency to take to China

It is best to exchange money directly before traveling to the country. In China, with a better take either yuan or dollars. The best option is to take something, and then (approximately 60-70% of all the money in yuan, and 30-40% in dollars).
Import of currency in China is not particularly limited. Without filling various documents can be imported into the country up to 3000 dollars. When importing amount exceeding $ 3,000, you must fill out a declaration.
Currency Exchange in China

You can exchange money in a few places - airports, banks, exchange offices, etc. It is necessary to guard against illegal currency exchange offices, the so-called "black money-changers" - firstly, it is not legal, and secondly, a high probability of fraud.
Banks work here, as a rule, from 9 am to 5 pm. Lunch break - from 12 to 2. Total foreign exchange operations will take a commission, it is necessary to specify the size of the cashier. It should say that until 2005 the yuan has been strictly pegged to the dollar, ie had a fixed exchange rate. Today, this is a free-floating currency, its rate is constantly changing. For example, in 2014 the dollar exchange rate fluctuated between 6.04 and 6.26 yuan per dollar. As a rule, the official exchange rate for different currencies displayed on a bulletin board.
credit Cards

Money in China can be charged to your credit card, using the ATM. There are ATMs located in banks and on the streets. ATMs marked ATM service international payment systems.

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