|
 |
|
|
China,
Money
Currency: 1 Renminbi Yuan (RMBY) = 10 chiao/jiao or 100 fen. Notes are in denominations of RMBY100, 50, 20, 10, 5, 2 and 1, and 5, 2 and 1 chiao/jiao. Coins are in denominations of RMBY1, 5 and 1 chiao/jiao and 5, 2 and 1 fen.
Currency exchange: RMBY is not traded outside China. Foreign banknotes and travellers cheques can be exchanged at branches of The Bank of China. In hotels and Friendship Stores for tourists, imported luxury items such as spirits may be bought with Western currency. Scottish and Northern Irish banknotes cannot be exchanged.
Credit & debit cards: American Express, Diners Club, East-American Visa, Federal Card, JCB Card, MasterCard, Million Card and Visa are valid in major provincial cities in designated establishments. However, the availability of ATMs is often limited, and the acceptance of credit cards is often unlikely.
Travellers cheques: To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars.
Currency restrictions: Import and export of local currency is limited to RMBY20000. Import of foreign currency is up to US$1000 (US$5000 for non-residents). Higher amounts should be declared upon arrival. Export of foreign currency is limited to the amount imported and declared.
Exchange rate indicators: The following figures are included as a guide to the movements of the Renminbi against Sterling and the US Dollar:
| Date | May '04 | Aug '04 | Nov '04 | Feb '05 | | £1.00= | 14.78 | 15.24 | 15.67 | 15.65 | | $1.00= | 8.28 | 8.27 | 8.28 | 8.29 |
Banking hours: Mon-Fri 0900-1700, Sat 0800-1130.
|
|
