Chinese Foreign Exchange Certificate 50 Fen Bill - Front - 1979 | Chinese Foreign Exchange Certificate 50 Fen Bill - Back - 1979 |
Money Issued by the
People's Republic of China
The Chinese Government used Foreign Exchange Certificates (FEC) for foreigners
to use in China. Foreigners had to purchase items with FEC money. In theory,
they were equivalent to Renmimbi (People's Money). However you could get more
Renmimbi for FECs. FECs could also be exchanged back to hard currency providing
you had the receipt that you bought them with to show the bank. They have now
been phased out of use. Everyone now uses Renmimbi. One hundred Fen equals one
Yuan. US. Because we worked in China
and they paid us in Renmimbi they allowed us to spend Renmimbi. We had a
certificate to allow this. One time in a hotel they refused to allow me to use
Renmimbi. I told them to call the police and then they relented and let me use
the Renmimbi.
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