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Currency and Exchange Rate in China

China’s currency is the renminbi (RMB, people’s currency) or yuan.

The interbank exchange rate on August 1, 2006, was US$1=RMB7.98.

The RMB is made up of 100 fen or 10 jiao. Coins are issued in denominations of one, two, and five fen; one and five jiao, and one RMB.

Banknotes are issued in denominations of one, two, and five jiao; and one, two, five, 10, 50, and 100 RMB.

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