Customers who have not paid for their tour in full at the time of any revaluation will be required to pay the difference between the old and new price calculated in Renminbi.Should a revaluation of the Chinese Renminbi occur, China Highlights Travel will honor all quotations for tours that have been fully paid at the time of the revaluation.We are currently reviewing our policy in this matter. Currency FluctuationĬhina Highlights Travel currently quotes tour prices in US Dollars. It is not a reflection on your character. It is very common practice for those who are receiving money to check its authenticity. Counterfeit MoneyĪlthough the Government is trying to eradicate this practice there are still some problems with the use of counterfeit money, although the problem is decreasing. This service allows instant money wiring to and from 100 countries. Wire Transfer using a service called Money Transfer is available and is a joint venture between the China Courier Service Corporation and Western Union. Credit cards can be used to get a cash advance in the main offices of the Bank of China. Air Travel could be purchased with credit cards. Credit cards cannot be used in most restaurants or small convenience stores. Check on the acceptance of your credit card before you purchase. Major credit cards such as Master Card, Visa, JCB and American Express are accepted in major hotels and department stores. Travelers are expected to use cash or bank cards when traveling in small cities, counties and towns. Exchanging traveler’s checks may not available in small cities, counties and towns.There is a foreign exchange black market, but it is illegal. This exchange can be done at the airport as you leave China. You can convert unused RMB to another currency in China by producing the receipts for your original purchase of RMB in China. (RMB is now readily convertible in Hong Kong.) It is therefore advisable to change only the money that you need for your trip, as it may be difficult or costly to change it back to your preferred currency. The RMB is not easily convertible on the international market so it is only usable in China. American Express/Visa/MasterCard, but this facility is available only from the main branch of the Bank of China in most Chinese cities. due to your daily withdrawal limit) cash advances are available on most common credit/debit cards e.g. If an ATM withdrawal is not sufficient (e.g. Check you credit card provider for this information before leaving your home country. The Bank of China has an ATM network that will allow cash advances from major credit / debit cards and ATM cards. You are required to present your passport to change money/travelers checks etc. Hotels will usually only allow you to change money if you are guest at the hotel. It is possible to exchange traveler's checks or cash at most banks, and large hotels usually have a money exchange counter. Obtaining Yuan in China from Foreign Currency 1 yuan, 1 and 5 jiao, and 1, 2, and 5 fen coins are even common used in larger cities. There are also 1 and 2 fen notes, but these are rarely used as they have no purchasing power. Paper jiao come in denominations of 1, 2, and 5. Paper currency comes in 1.2,5,10,50 and 100 yuan notes. The basic unit is the yuan (also known as "kuai"), which equals 10 jiao (or "mao"), which is then divided into 10 fen. The official currency in China is the Renminbi (RMB or CNY) or in Chinese "Ren-min-bi".
RMB CURRENCY RATES HOW TO
See the top10 China toursor contact us for a tailor-made China tour. > Latest Exchange Rates published by Bank of China (Updated daily) To avoid additional exchange rate charges, travelers are advised to take traveler's cheques in US Dollars. Credit cards are often unlikely to be accepted away from the major cities. ATMs can generally be found in airports, hotels, shopping centres and banks. Credit/Debit Cards and ATMsĪmerican Express, Diners Club, MasterCard and Visa are widely accepted in major provincial cities in designated establishments. Scottish and Northern Irish banknotes cannot be exchanged. In hotels for tourists, imported luxury items such as spirits may be bought with Western currency. Foreign banknotes and traveler's cheques can be exchanged at branches of The Bank of China. Currency ExchangeĬNY is not traded outside China. Counterfeit ¥50 and ¥100 notes are commonplace. Coins are in denominations of ¥1, 5 and 1 jiao/mao. Notes are in denominations of ¥100, 50, 20, 10, 5 and 1. RMB exchange rates are decided by the People's Bank of China and issued by the State Administration of Foreign Exchange, the latter exercising the functions and powers of exchange control.ġ Renminbi Yuan (CNY symbol ¥) = 10 jiao/mao or 100 fens. The Renminbi (RMB), China's legal currency, is issued and controlled solely by the People's Bank of China.
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