What do you know about China's money?

It must be said that China's paper money appeared when Rus was still pagan. It is believed that such an event occurred in 910, and the Celestial Empire in this plan has outstripped Europe for more than 700 years (the first issue in 1661, Stockholm), and the Russian Empire - more than eight centuries (banknotes in Russia were issued in 1769 By order of Catherine II).

The name of money in China is twofold. On the one hand, inside the country they are often called "renminbi" (translated as "what is measured"), on the other hand, in international currency markets they are referred to as Chinese yuan ("yuan" is translated as "unit of measurement") and have a code in Classification of CNY. The Chinese state pursued and pursued a very successful policy, establishing a fixed rate of its money relative to other world currencies.

For example, in 2004, one dollar in China cost slightly more than 8 yuan, which allowed the Middle Kingdom to successfully implement its low-cost goods in foreign markets, including the American one (the negative trade balance was more than 180 billion dollars). This caused numerous protests from Europe and the same America. However, China's money in international markets is valued exactly as this powerful east power wants with a rapidly developing economy.

In 2005, according to the decision of the Chinese government, the renminbi rate ceased to be tightly tied to the dollar rate. In addition, it was allowed to consciously strengthen the currency by a couple of percent. Since then, about 6.83 yuan is given for the American currency. Today, China's money is valued more expensive than Russian, but cheaper than European ones. For example, for one yuan in the exchange office will give about 5.5 rubles or about 17 euro cents.

People preparing for a visit to this eastern country need to know what money in China is in circulation. Today it is banknotes with denominations of 1, 5, 20 and 10, as well as one hundred and fifty yuan and a coin of one yuan. In the monetary system, a decimal method of calculation is adopted, therefore, there are banknotes called jiao. One jiao is equal to 1/10 of the yuan. The nominal value of jiao can be one, two or five. In addition, there are coins of fen. One feng is 1/10 of one jiao. There are five, one and two fakes in circulation.

China's money is carefully guarded by the laws of this country. In particular, for falsification of banknotes the death penalty is imposed through execution. But this does not stop those who want to cash in on one of the most powerful currencies in the world. In particular, there was a case where in one of the cities in the apartment next to the mayor's office there was a printing press that threw into the economy about 101 million US dollars in yuan equivalent. The case was very loud, and after its completion, even exhibitions were held for edification on the materials of the process. Tourists in this country, as well as in Australia and South-East Asia, where operations with the Chinese currency are widespread, should be very careful when dealing with 100- and 50-yuan bills, tk. The risk of getting a fake is big enough. And money can get to you not only from street vendors, but also from ATMs. So high is the level of fakes.