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#Chinese currency exchange rates how to#

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".

#Chinese currency exchange rates how to#

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