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Foreign Currency

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 foreign currencies and the New Taiwan Dollar. The following foreign currencies can be cashed into Renminbi in China: US dollar, British pound sterling, Japanese yen, Australian dollar, Austrian schilling, Canadian dollar, Hong Kong dollar, Swiss franc, Danish krone, Dutch guilder, Norwegian krone, Swedish krona, Singaporean dollar, Thai bath, Malaysian ringgit, Macao pataca, and Euro. Airports, hotels, restaurants and stores in China also handle the conversion of foreign currencies into Renminbi. The State Foreign Exchange Administration 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.


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