Chinese currency: what's the lowdown?
Mar 19th, 2011, 05:23 PM
#1
Original Poster
Join Date: Jun 2006
Posts: 2,433
Likes: 0
Received 0 Likes
on
0 Posts
Chinese currency: what's the lowdown?
Can someone break down how the Chinese currency (RMB) works? I see some prices quoted as Yuan and some as RMB. Is it the same thing?
How does it break down in terms of US conversion?
Sorry--I probably should know this, but it's escaping me the more I read about it.
How does it break down in terms of US conversion?
Sorry--I probably should know this, but it's escaping me the more I read about it.
Mar 19th, 2011, 05:44 PM
#2
Join Date: Feb 2004
Posts: 23,073
Likes: 0
Received 0 Likes
on
0 Posts
Same thing. Like "a buck" = "US Dollars".
Actually, the official currency symbol is CNY or ¥. RMB stands for "renminbi", the pinyin for "people's currency". "Yuan" is the pinyin for "dollar". All the same thing. 1USD = 6.6CNY.
Actually, the official currency symbol is CNY or ¥. RMB stands for "renminbi", the pinyin for "people's currency". "Yuan" is the pinyin for "dollar". All the same thing. 1USD = 6.6CNY.
Mar 20th, 2011, 04:12 PM
#6
Original Poster
Join Date: Jun 2006
Posts: 2,433
Likes: 0
Received 0 Likes
on
0 Posts
This brings up another question: where is the best place to exchange money in China? I know in Thailand, Bali and other parts of SE Asia we've been to I've had better experiences with ATMs than banks. But not sure how it goes in China.
Advice?
Advice?
Mar 21st, 2011, 05:24 AM
#8
I have read, but have not confirmed, that the exchange rate is strictly regulated in China so there's no need to shop around between ATM vs. banks vs. hotels, etc. I am assuming ATMs are the easiest way to get money without having to carry US cash or travelers' checks though. Can anyone confirm?
