Currency - What money to take to China?
Chinese Yuan, also known as “Renminbi” (RMB) and “Kwai”, is king in China and used for almost all transactions in what is still very much a cash orientated society.
The largest denomination is 100 which is approximately £ / €10 or US$15 so you’ll get used to carrying far more cash around on you than you do at home. Other denominations are 50, 20, 10, 5 and 1. You rarely come across coins which we think is a good idea!
Our advice is to wait until you arrive in China to obtain local Chinese RMB Yuan. The rates you receive outside of China are usually poor as RMB is not officially traded internationally. On arrival at the airport in China you will have the option of changing money at banks or using an ATM. Most hotels will also change cash US$ or Euros and less commonly pounds. Note that Travellers Cheques can be changed in China but only certain banks offer this service and cashing these cheques can be very time consuming.
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