Chinese Currency Converter
Yuan Exchange Rates Table
Rates in the table were last updated on September 2, 2013.
See China Currency for:
- Chinese Currency Notation
- The Strength of the Yuan
- Withdrawing Yuan in China
- Exchanging Foreign Currency for Yuan
- Paying by Credit/Debit Card
See Chinese Money for:
- The History of Chinese Money
- Denominations of Chinese Money
- How to Recognize Fake Money and Other Tips
- Photos of Current Chinese Bank Notes
- Photos of Current Chinese Coins
- Photos of Old Chinese Bank Notes
The official currency in China is the Renminbi (RMB or CNY) or in Chinese "Ren-min-bi". The basic unit is the yuan (also known as "kuai"), which equals 10 jiao (or "mao"), which is then divided into 10 fen. Paper currency comes in 1.2,5,10,50 and 100 yuan notes. Paper jiao come in denominations of 1, 2, and 5. There are also 1 and 2 fen notes, but these are rarely used as they have no purchasing power. 1 yuan, 1 and 5 jiao, and 1, 2, and 5 fen coins are even common used in larger cities.
Obtaining Yuan in China from Foreign Currency
It is possible to exchange traveler's checks or cash at most banks, and large hotels usually have a money exchange counter. Hotels will usually only allow you to change money if you are guest at the hotel. You are required to present your passport to change money/travelers checks etc.
The Bank of China has an ATM network that will allow cash advances from major credit / debit cards and ATM cards. Check you credit card provider for this information before leaving your home country.
If an ATM withdrawal is not sufficient (e.g. due to your daily withdrawal limit) cash advances are available on most common credit/debit cards e.g. American Express/Visa/MasterCard, but this facility is available only from the main branch of the Bank of China in most Chinese cities. A fee of 3%-4% will apply.
Changing Yuan Back to Your Currency
The RMB is not easily convertible on the international market so it is only usable 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.
You can convert unused RMB to another currency in China by producing the receipts for your original purchase of RMB in China. This exchange can be done at the airport as you leave China. There is a foreign exchange black market, but it is illegal.
Exchanging traveler’s checks may not available in small cities, counties and towns. Travelers are expected to use cash or bank cards when traveling in small cities, counties and towns.
Major credit cards such as Master Card, Visa, JCB and American Express are accepted in major hotels and department stores. Check on the acceptance of your credit card before you purchase. Credit cards cannot be used in most restaurants or small convenience stores. Air Travel could be purchased with credit cards. Credit cards can be used to get a cash advance in the main offices of the Bank of China.
Wire Transfer using a service called Money Transfer is available and is a joint venture between the China Courier Service Corporation and Western Union. This service allows instant money wiring to and from 100 countries.
Although the Government is trying to eradicate this practice there are still some problems with the use of counterfeit money, although the problem is decreasing. It is very common practice for those who are receiving money to check its authenticity. Do not be offended by this practice. It is not a reflection on your character.
The Chinese currency is currently fixed to the value of the US Dollar, so as the value of US Dollar changes on international currency market, the relationship between the Chinese Renminbi and the US Dollar remain the same. Some countries say that this does not give a true indication of the strength of the Chinese currency internationally and there is pressure on China to change the current relationship to the US Dollar.
China Highlights Travel currently quotes tour prices in US Dollars. We are currently reviewing our policy in this matter.
- Should a revaluation of the Chinese Renminbi occur, China Highlights Travel will honor all quotations for tours that have been fully paid at the time of the revaluation.
- Customers who have not paid for their tour in full at the time of any revaluation will be required to pay the difference between the old and new price calculated in Renminbi.
China Bank Notes Tours
You could not change Indian rupee to Chinese yuan directly, you should change rupee to USDs, EUROs or pounds, then change them to Chinese Yuan. You could check the exchange rate on website for reference. Click: http://www.boc.cn/sourcedb/whpj/enindex.html Lussie Lu Replied on 10:39 PM Apr. 15 2014
Credit/debit card can not be used everywhere in China, so it's wise to carry CNY800-1000 cash with you everyday.
Credit/debit card are possible at the main branches of the Bank of China in each city. A small fee is charged by the Bank and charges are also applied by the bank/credit card provider.
Bank of China ATM machines, which are widely used in China, are compatible with Cirrus and Pulse so cash withdrawals are easy to complete using these machines. Only use ATM's that display the Visa and MasterCard symbols. An English menu will appear when you insert your card. The exchange rate that is applicable through ATM's is good and this can be a very convenient way to organize your money. Locations for ATM's are available from your card issuer. Limits for withdrawals on each transaction differ but US$250 per transaction is common.
Please feel free to click here to get more information about Money and Currency in China:http://www.chinahighlights.com/travelguide/guidebook/money-currency.htm
Lussie Lu Replied on 01:36 AM Mar. 28 2014
Hi Max, sorry, we don't know the exact information, please consult the bank you will use.Whitney Liao Replied on 10:31 PM Mar. 24 2014
Hi Rahil, we are a travel agency. Do you need any tour service?Whitney Liao Replied on 05:16 AM Feb. 24 2014
Hi Gene, Passengers can carry RMB20,000 in cash or foreign currencies with a conversion rate of US $5,000 into China.The amount in excess shall be processed by Customs in accordance with the current regulations.
Whitney Liao Replied on 8:04 PM Feb. 12 2014
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