Currency in China: the exchange, importation, money. What is the currency in China?

Currency in China

Currency in China

Before traveling to China, you need to knowcurrency used in the country. China called Yuan national currency. In turn, the yuan has two fractional values: one Yuan 10 jiao and 100 fen. For example, the amount of 5.22 billion yuan will be called as 2 yuan 5 jiao and 2 fen. Money in China are turning in the form of coins and banknotes. Coins are available in denominations of 1, 2 and 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 greaterpopularity in 2013. According to the agency Bloomberg calculations of the proportion of international currency was 8.66%. Thus, the Chinese yuan has bypassed on this parameter euros - the share of payments for the same period, the euro was 6.64%. For comparison, in 2012 the proportion of the yuan was only 1.89%, while the euro - 7.87%.

What currency to take to China

It is best to change the currency immediately beforetravel to the country. In China it is better to take a yuan or dollars. The best option would be to take something, and then (about 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 you can bring in up to $ 3,000. When you import the sum exceeding $ 3,000, you need to fill in the declaration.

Currency Exchange in China

You can exchange money in several places - itairports, banks, exchange offices, etc. It is necessary to guard against the illegal exchange offices, the so-called "black money-changers" - firstly, it is not legal, and secondly, a high probability of fraud.
Banks are working here are usually from 9 am to 5evening. Lunch - from 12 to 2. Total foreign exchange operations will be taken by the commission, it is necessary to specify the size of the cashier. It is said that up to 2005 yuan has been strictly pegged to the dollar, ie, I had a fixed exchange rate. Today, this is a free-floating currency and its exchange 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 of different currencies is 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 ATM inscription service international payment systems.

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