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Q: China should have a 400 or 500RMB currency note....anybody agree?
I'd have just said 500, but I know they like to be different/weird.... and 4 was probably a wrong # , not a good #,,,, so maybe a 600RMB note would be good..... closer to $100 for us Canadians and US and AU
11 years 3 weeks ago in Money & Banking - China
A 600 RMB note? That would be odd.
They should 'ahve' a 500 note.
I agree they should have a higher bill..a 500 note would be good.
But the government already has too much to deal with..with all the counterfeit 100 notes already so I can understand why they are hesitant.
Besides you would be hard pressed to find a store or taxi willing to change a 500 note.
And besides people like looking cool with a big wad of hundreds.
I will be travelling to China soon, can anyone tell me what notes are used now?
10, 50, 100? what about coins?
Thanks for the reply
Hugh.G.Rection:
1, 5, 10, 25, 50 and 100s are the notes. There are 1RMB coins too but they are extremely rare. Be warned counterfeiting is big, check ALL of your notes especially from taxis.
bill8899:
FWIW I have over 200 1 RMB coins. We use them for poker.I think the 1 RMB coins are rare in some places and common in others.
pbrown22:
To my knowledge there isn't a 25 note but there is a 20. Also as the last poster said, 1RMB coins are very common in some places while not in others.
I'll just repeat what everybody else is saying about shanzhai. and what thedude said about anyone accepting or breaking them... most get nose outta joint breaking yi bai.
Yes I am in favor of a 500 or 600 RMB bill. Why? Because now I carry huge wads of 100s to look rich. But if they make a 500 I can wrap my 100s in a 500 or two and appear super rich!
no they shouldn't the value of the rmb vs the $ (only currency that matters ) is increasing now it is at 6.22 . so why print a bigger bill now? plus the move is towards using cards not paper money. waste of time
I'm more in favor of China getting rid of the infinitely small "fen". Whenever I shop at the Ito Yokado grocery store by my house, they try to give me coins valued at .01 RMB. No one wants these. Personally, I'd get rid of everything below 5 mao.
Side note, wasn't the US talking about getting rid of pennies since they cost more to produce than they're worth?
Have you seen how they precisely examinate the 100 note?
No one is going to accept me the 500 note U_U!
Actually, I feel rude when I have to pay with 100 so I can't imagine paying with 500. This is funny because in my country we have notes up to 4.000 RMB and here that would sound ridiculous...
There should be 500 rmb and 1000 rmb bills similar to the set up in Hong Kong with the dollars. China is becoming a more affluent society and the need for larger amounts of currency is increasing. It would also speed up the transaction time in banks and reduce the incidence of counterfeit detection because there will be less bills to go through or conceal fakes.
I'd say no! Although the idea of it is interesting. If you have a 500 rmb note it will just lead to more change in your pocket because you would have to break that 500 rmb not and sometimes businesses don't have the right amt. of money. Especially taxi drivers. Too much would probably be bad. I wouldn't go so high up but maybe they can start at 200 rmb note and see how it goes.
I agree they should have bigger notes... if nothing else, think how much the relative purchasing power of the 100RMB note had dropped over the years since it was introduced.
I'd start with a 200RMB note.
