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 The
circulation of foreign currency, and the settling of accounts with foreign
currency, are banned in the People's Republic of China. Foreigners who have
entered China will have to pay for their expenses in Renminbi. The outlets
of the Bank of China cash foreign travel cheques and credit cards, as well
as 22 foreign currencies and the New Taiwan Dollar. The following foreign
currencies can be cashed into Renminbi in China: US dollar, British pound
sterling, French franc, Deutsche mark, Japanese yen, Australian dollar,
Austrian schilling, Belgian franc, Canadian dollar, Hong Kong dollar, Swiss
franc, Danish krone, Dutch guilder Norwegian krone, Swedish krona,
Singaporean dollar, Thai bath, Spanish peseta, Malaysian ringgit, Italian
lira, Macao pataca, Finnish markka, and Euro. Airports, hotels, restaurants
and stores in China also handle the conversion of foreign currencies into
Renminbi. The State Foreign Exchange Adminis-tration announces the exchange
rates on a daily basis. A foreign traveler may have his surplus amount of
Renminbi changed back into foreign currency and take it out of China within
a grace period of six months prior to departure from China, but in doing so
he has to show a foreign currency conversion receipt. |
