3 ms·
China also has dual currency CNY-CNH system. https://www.nasdaq.com/articles/cnh-vs-cny-differences-between-two-yuan-2018-09-12 https://www.nasdaq.com/articles
by sremani 6y ago
China also has dual currency CNY-CNH system.
https://www.nasdaq.com/articles/cnh-vs-cny-differences-between-two-yuan-2018-09-12 https://www.nasdaq.com/articles/cnh-vs-cny-differences-betwe...
- 4cao 6y agoChina used to have a similar system with Foreign Exchange Certificates until the 1990s [1] but nowadays it's not really the same. CNH/CNT/NDFs are an artefact of foreign-exchange controls but as a visitor to China you're unlikely to even know they exist. 1. https://www.china-briefing.com/news/15-years-in-china-foreign-exchange-certificates/ https://www.china-briefing.com/news/15-years-in-china-foreig...
- Aperocky 6y agoThat's not really the same as you don't really spend CNH except use it to exchange currencies outside of China. That is, non of the locals or expats in China spend CNH - and their value is almost exactly the same because there is not an oversupply of either and both is anchored on the massive USD reserve China has.