The Chinese Yuan is the official currency of China and Zimbabwe, and is unofficially used by North Korea, Hong Kong, Macau and parts of Burma. It was officially introduced in 1948, replacing the older Yuan series. Currency in China has a history going back at least 3000 years, to both Ancient and Imperial China. In more modern times, the Silver Dollar was introduced in 1914, followed by the Fǎbì in 1935, which was then replaced by the Gold Yuan in 1948. The Yuan Renminbi was introduced to help stabilise Communist-held areas! The Yuan of today was re-evaluated in 1955, at a rate of 1 new Yuan to 10,000 old Yuan.
The Chinese Yuan is available for purchase in India by the conversion of INR to CNY in the form of currency notes in denominations of ¥1, ¥5, ¥10, ¥20, ¥50, and ¥100. The currency notes feature artwork depicting Mao Zedong. The Chinese Yuan is administered by the People’s Bank of China, and is usually abbreviated to ‘CNY’ or ‘¥’.
The Chinese Yuan is easily available in India, and commonly used in international foreign exchange transactions. In fact, it contributed 2.2%* of the global foreign exchange market turnover as recently as 2013, making it the 9th most-traded currency in the world. Offering the best foreign exchange rates for the Chinese Yuan, DoorstepForex.com is available across all the major cities of India. If you’re travelling to China, you’ll need Chinese Yuan and we will help you find the best rates in India. You can anytime sell back your extra CNY left after your China tour and convert Chinese Yuan to Indian Rupees.
Although the Chinese Yuan may not be widely accepted, it is still in wide use among travellers to the region. It is a popular choice for many travellers, and you will look no further than DoorstepForex.com for the best rates and hassle-free transaction!
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