Chinese Currency

The Chinese currency is known as renminbi (literally translated as the People’s Currency) . The basic unit is the yuan (or kuai as it is commonly referred to-j ust like the British quid or American buck). The yuan is divided int0 10 jiao (colloquially called mao), and each jiao is divided into 10 fen. There are large notes forl00, 50, 20, 10, five, two and one yuan and smaller notes for five, two and one jiao, Coins are not as common as they used to be. For notes upwards of five yuan there are now two types of bills in circulation. If you are confused look carefully at the note as they all have numerals and yuan or jiao printed on them. If you are entering from Hong Kong be aware that the 100 renminbi note looks quite similar to its Hong Kong dollar counterpart. You should also be aware that there are many counterfeit notes in circulation-though these are unlikely to be passed on by legitimate traders.
You can easily check current conversion rates against the Chinese currency online at www.xe.net/ucc Daily exchange rates and graphs showing the performance of your preferred currency against the yuan for up to the /ast 120 days can be viewed at www.xrates.com

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