China's currency: what tourists need to know

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Each country has its own currency. In Russia - the ruble, in the USA - the dollar, and in Ukraine - the hryvnia. What is the currency in China? The national currency of this country is the yuan.

Tourists can use international credit cards to pay for various goods or services, although cash is required to travel within the country. To get them, you can cash out a credit card using the services of the Bank of China. It is worth saying that it is not worth withdrawing money from ATMs, since there is a big risk of getting counterfeit banknotes. It is best to exchange currency while staying in China at branches of the National Bank, as well as at hotels and international airports. You also need to know that using the services of street money changers is prohibited, since this is contrary to the law "On monetary relations." Otherwise, you may be subject to administrative or criminal liability.

It should also be noted that you can import any currency into China without any restrictions, but there is a clear restriction on the export of national monetary units - it is allowed to take no more than 5 thousand yuan with you.

China's currency is considered the most stable not only in East Asia, but throughoutthe world. After its devaluation in the early 90s, the exchange rate is 8 yuan per dollar. It is worth noting that the Chinese currency is issued not only in the form of paper banknotes of various denominations, but also in the form of coins - jiao and fines.

The important administrative region of the country is Hong Kong. It is characterized by high autonomy, therefore, another currency of China is present in the money circulation - the Hong Kong dollar in paper banknotes (GKD - its international designation), as well as cents, which are issued in the form of coins. The exchange rate of this currency is pegged to the US dollar. This money is issued by the Hong Kong government and three local banks. An unlimited amount of currency is allowed to be imported, and crossing the border of Hong Kong in any direction from the GCD is prohibited.

Exchanging available money for the Hong Kong dollar is not a problem. You can do this at banks, exchange offices, airports, large supermarkets and many hotels. Traveler's checks are also accepted. China's currency in the form of Hong Kong dollars becomes available to any tourist who has an international credit card. It is enough to use ATMs that work around the clock and dispense cash without paying commissions. It is worth noting that the currency in China is exchanged most profitably in banks, and the highest percentage has to be paid at airports.

If during your stay in this country you do not spend all the yuan, they can be exchanged for the desired currency. In this case, you must present a check of the previous purchase of Chinese currency, so the datadocuments after the implementation of all cash transactions cannot be thrown away. It must also be remembered that old and damaged banknotes may be reluctantly exchanged or not accepted at all. In addition, you must have identification documents with you.