What is the currency in China and its exchange rate?
The official currency in mainland China and Tibet is the Chinese yuan (CNY). Exchange rates fluctuate daily, so it's recommended to check current rates before departure on financial websites or banking apps.
Chinese yuan, the sole currency
The Chinese yuan (CNY) is the official currency used throughout the People's Republic of China, including Tibet. It is also called renminbi (RMB), which means "people's currency". The symbol is ¥.
Understanding exchange rates
The yuan is a floating currency whose rate varies daily against the euro and other currencies. Fluctuations depend on:
- Chinese economic policies
- International trade relations
- Global economic situation
Practical tips for currency exchange
Check real-time rates on websites like XE.com or through your banking app. Avoid exchanging at airports where commissions are high. Prefer official Chinese banks or withdraw directly from ATMs using your international debit card.