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 | Beijing Warnings or Dangers | Tips 1 - 10 of 240 |  |
 | |  |  | Change Money: In the Matter of Money... | Tip Rating:   |  |  | |  |
First of all, if you are planning to exchange your local currency for Chinese RMB, please do so at a bank or at your hotel's front desk. Also, do not exchange more than you really need. It is harder to change RMB back into your local currency...Believe me, a little of bit of your own money, can last a long time. Exchange little bit at a time. Another thing to remember, when exchanging at hotels, hold on to your receipt, it will be easier to exchange RMB's back into your currency that way. Also, before you head out remember to get different denominations. You don't want to go out with only large bills. Reason being, if you want to buy a small item from someone on the street, you can't be sure they will give you back REAL money or even the same currency. DO NOT attempt to exchange your money on the street or in alleyways. I am told that the REAL currency has some type of watermark. Ask someone to point out the differences. Leave a Comment
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| | | | Change Money: Currency | Tip Rating: | | | | |
The Chinese currency is the Renminbi (RMB), or people's money. The basic unit, the yuan, is divided into 10 jiao. The jiao is again divided into 10 fen. 1 yuan = 10 jiao = 100 fen In spoken Chinese the yuan is referred to as the kuai and the jiao is referred to as the mao. The following yuan notes are issued 100, 50, 10, 5, 2 and 1. The jiao comes in denominations of 5, 2 and 1. It is advisable to stock up on 10 yuan notes.Taxi drivers and shopkeepers are frequently unable to change larger denominations. Traveler's checks and foreign currency can be changed at international airports, main branches of the Bank of China and major hotels. Hotels may only exchange money for their guests. Traveler's checks generally receive a more favorable rate than cash. ATMs that accept foreign cards are few and far between. Do not rely on them as a major mode of obtaining cash in mainland China. The most readily accepted credit cards are Visa, Master Card, American Express, JCB and Diners Club. Credit cards are gaining acceptance in China, however, count on using them only in major cities. They will, generally, be accepted in major hotels and tourist restaurants. Leave a Comment
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