CHINESE YUAN RENMINBI
According to Countryaah, the Chinese Renminbi Yuan (CNY) is the official currency of the People’s Republic of China and is issued by the People’s Bank of China. In western parlance, the renminbi is better known as the yuan, although strictly speaking it is only one denomination of the currency. Here you can easily buy Reniminbi Yuan online and find out the current exchange rate from Euro to CNY in our currency converter.
THE CHINESE PEOPLE’S CURRENCY
The use of money in China can be traced back to the 2nd or 3rd millennium BC. In the course of history, various means of payment with different alloys have been used time and again. The renminbi is China’s youngest currency to date. It was introduced in 1949 by the then regime under Mao Zedong after the founding of the People’s Republic and translated means “people’s currency” or “people’s money”.
REGIONAL DIFFERENCES AT LOW FACE VALUES
The renminbi is denominated into yuan, jiao and fen, with bills with Fen denominations having almost disappeared from everyday use. Corresponding amounts are rounded to full Jiao. However, this rule does not apply to a change from foreign currencies to yuan, here Fen amounts are still issued. Whether you pay with coins or bills varies from region to region in China. While 1-yuan coins are mainly used in Shanghai, 1-yuan notes are predominantly in circulation in Beijing.
ALL BANKNOTES SHOW MAO ZEDONG
A new series of banknotes introduced in 1999 shows the likeness of former communist president Mao Zedong. On the reverse there are mostly stylized images of the Chinese landscape.
COUNTERFEIT MONEY IS WIDESPREAD IN CHINA
Because counterfeit money is still a widespread problem in the People’s Republic of China, much is being done to make the currency more secure. To prevent counterfeiting of larger amounts, the denomination ends at 100 yuan. At the end of 2005, a new series of banknotes was put into circulation, which should guarantee greater security with new serial numbers and watermarks. In addition to numerous other features, the depicted lapel of Mao Zedong with its corrugated structure is one of the most important properties to make the banknotes forgery-proof.
CHANGE CASH IN GOOD TIME
In any case, you should exchange enough cash well in advance of your trip. At XE you can conveniently order the Chinese Renminbi Yuan online or change it at a branch. Warning: tips are taken as an insult outside of the major tourist centers. For means of transport such as taxis, bicycle rickshaws or motorcycle tricycles, it is advisable to set a price before starting your journey, which you then pay after the journey. You can find more helpful tips for a stay in China in our travel information about China.
BUY CHINESE RENMINBI YUAN ONLINE
You can conveniently buy the Chinese Renminbi Yuan (CNY), but also many other currencies, in the XE online shop. Simply select the desired variety, use our currency converter to display the current exchange rate of the XE from euros to renminbi yuan and order your travel money online. The currencies that you order online from us will be delivered to your home within a few days. You can also easily collect your travel money from one of the many XE branches.
THE CURRENCY AT A GLANCE
1 renminbi yuan = 10 jiao = 100 fen. Currency abbreviation: RMB ¥, CNY (ISO code). There are banknotes in denominations of 100, 50, 20, 10, 5, 2 and 1 ¥ as well as 5, 2 and 1 Jiao as well as 5, 2 and 1 Fen. Coins are in circulation in denominations of 1 ¥ and in 5 and 1 Jiao as well as 5, 2 and 1 Fen. Fen notes and coins have become very rare.
FOREIGN EXCHANGE REGULATIONS
The import of foreign currencies is unrestricted and must be declared from an equivalent value of US $ 5,000. The import and export of the local currency is only permitted up to RMB ¥ 20,000. The export of foreign currencies is permitted up to the amount declared, minus the exchange amounts.