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Forum Question Posted By: Replies:
China
Questions about Money
Posted: Tue December 13, 2005 05:50 PM UTC
What is the difference between yuan and RMB. Can both be used in China?
What is the best way to organise local money when in China, I read US$100 bills are the main thing to take but will GBP be OK as well?
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China
RE: Questions about Money
Posted: Tue December 13, 2005 06:07 PM UTC
RMB is Yuan. RMB is official. Yuan is colloquial. In every day speech, you'll also hear "kuai", which is the same thing as Yuan. All interchangeable.

Use large bills for exchange, but always keep small changes like 1,
5, or 10 Yuan handy.

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RE: RE: Questions about Money
Posted: Tue December 13, 2005 06:18 PM UTC
Thank you that clears up my confusion

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RE: RE: Questions about Money
Posted: Tue December 13, 2005 08:05 PM UTC
There are plenty of ATMs in the main centres ( Beijing,Xian etc) that accept Cirrus/Maestro/Visa. Smaller hotels do not usually change money. Travellers checks are only changeable at the Bank of China.Their are ATMs at Beijing airport( and money changers)

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RE: RE: Questions about Money
Posted: Wed December 14, 2005 11:03 AM UTC
Hotels also exchange Travellers Checks and they can`t charge you anything. There's a unique rate of exchange set by the government of China to buy or sell RMB (or Yuan, itīs the same), so I think it`s the only place in the world where you can exchange everywhere without any problem. Just be carefull with false money or money out of circulation or from some other country when you get a change.

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RE: Questions about Money
Posted: Thu December 15, 2005 07:24 PM UTC
wherever you exchange money (inc ATMs), keep your receipts as you'll need them to exchange money back to USD when you leave the country. Some banks will only accept their own receipts for exchanging money so try to stick with a few of the larger ones... like Bank of China and the like.

suerte,
Fernando

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RE: RE: Questions about Money
Posted: Sun December 18, 2005 08:50 AM UTC
I dont want to scare you, ATMs really are the most convinient way of getting Yuan, but I once had a fake 100 Yuan bill out of it. It must be because it is the highest bill, I cant get it as an exchange.

You might get confused with the small Chinese money mao, Jiaoje, there are sometimes funny little bills:

a green little bill with a plane on the cover, or a brown one even smaller with a truck on it - Im not sure myself, but I think it is one tenth of a Yuan - what they call Mao. Does anybody know more about those tiny little bills?

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RE: Questions about Money
Posted: Sun December 18, 2005 01:46 PM UTC
GBP are OK as long as they are English notes and not Scottish ones. You can change them at banks but need your passport also. Use Visa cards in the Bank of China ATM's with usually a very good rate of exchange
Regards
Bob

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RE: RE: Questions about Money
Posted: Sun December 18, 2005 05:32 PM UTC
here are some pics of the currency I saw on my first trip, back in 2001.... finding jiao in circulation was easier then on my last trip in 2004. Incidendly, they have issued new RMB/Yuan notes, which I haven't gone around to post yet. The new notes have the face of Mao on the front (i think).

http://members.virtualtourist.com/m/tt/1b5f4/#TL

sueret,
Fernando

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