must be said that China's paper money appeared when Russia was still a pagan.It is believed that such an event occurred in the year 910, and the Celestial Empire in this regard ahead of Europe for more than 700 years (the first issue in 1661, Stockholm), and the Russian Empire - more than eight centuries (bank notes in Russia were issued in 1769on the orders of Catherine II).
name of money in China is twofold.On the one hand, within the country, they are often called "RMB" (translated as "what is measured"), on the other hand, the foreign exchange markets, they are called Chinese Yuan ("RMB" means "unit"), and have a code in theclassification CNY.The Chinese government was and is a very successful policy, setting a fixed rate for money against other world currencies.
For example, in 2004 one dollar in China was worth a little more than 8 billion yuan, which enabled China to successfully implement their low-cost goods in foreign markets, including the US (negative trade balance amounted to 180 billion dollars).This led to numerous protests from Europe and America the same.Money, however, China's international markets are valued exactly as it wants the powerful Eastern power with rapidly growing economies.
in 2005 by the decision of the Chinese government's RMB exchange rate is no longer rigidly pegged to the dollar.In addition, there has been a deliberate strengthening of the currency for a couple of percent.Since then, for the American currency yield about 6.83 yuan.Today, money is valued in China more expensive than Russian, but cheaper than European.For example, for one yuan at an exchange office will give about 5.5 rubles, or about 17 cents.
People preparing for a visit to this eastern country, you need to know what kind of money in China are in circulation.Today, it notes with denominations of 1, 5, 20 and 10, as well as one hundred and fifty yuan and one yuan coin.The decimal currency system adopted method of calculation, so there is a bill called jiao.One jiao equals 1/10 of the yuan.Denomination jiao can be one, two or five.In addition, there are Fen coins.One Fen is 1/10 of one jiao.The walk has a damn about denominated five, one and two.
Money Chinese carefully guarded by the laws of this country.In particular, for forgery of banknotes put the death penalty by firing squad.But this does not stop those who want to cash in on one of the strongest currencies in the world.In particular, there was a case when one of the cities in the apartment next door to City Hall worked the printing press, the emissions in the economy about 101 million US dollars in yuanevom equivalent.It was very loud, and after the edification even held an exhibition on materials of the process.Tourists in this country, as well as in Australia and Southeast Asia, where the Chinese currency transactions are common, it is necessary to be very careful when operating with a 100 and 50 dollar bills yuanevymi sincethe risk of getting fake big enough.And the money can get to you, not only from the street vendors, but also from ATMs.So high levels of counterfeiting.
