Money Matters

The currency is the Chinese Yuan, divided into 10 Jiao or 100 Fen. However, money within China is called RMB (Ren Min Bi, people's money), and people normally refer to Yuan as Kuai (piece, the counting word for money, as in yi kuai qian = one piece of money), Jiao as Mao and Fen as Sen.

Notes are available in denominations of 100, 50, 10, 5, 2 and 1 yuan, 5, 2 and 1 jiao, and 5, 2, and 1 fen. Coins are 1 yuan, 5, 2 and 1 jiao, and 5, 2 and 1 fen.
Note: As with most currencies, there are counterfeits. Banknotes printed from 1990 have a metal thread woven into their fabric.

Travellers cheques will give you a better exchange rate. Travellers cheques denominated in most major currencies are accepted by the Bank of China. You normally get a better exchange rate than for cash. There is a 0.75% commission.

Most larger hotels, restaurants and department stores accept credit cards. Shopping with a credit card, however, guarantees you a bad deal. Credit cards are accepted in Lhasa and Shigatse. In most banks it is possible to obtain cash.