Exchange Rates and International Context. This guide breaks down everything from the official banknotes to the slang used on the streets of Shanghai and Hong Kong.
Chinese Money History Modern Usage and What to Call It Today
Another historical term is "Mao" (毛), which refers to the hair, similar to how "penny" is derived from the Latin "penus" for coin. The Official Currency: The Renminbi (RMB) The formal name for Chinese money is the Renminbi (人民币), which translates to "People's Currency.
The most common slang term is "Kuai" (块), which literally means "lump" or "piece. Regional Variations: Hong Kong and Taiwan It is crucial to distinguish the currency of mainland China from that of its special administrative regions.
Chinese Money History Modern Usage and What to Call It Today
When referring to the exchange rate or the value of the currency on the global market, "Yuan" is the standard term used internationally. In Hong Kong, the official currency is the Hong Kong Dollar (HKD), pegged to the US Dollar.
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