Why are there many countries whose money cannot be exchanged in China

Updated on international 2024-06-13
4 answers
  1. Anonymous users2024-02-11

    Recently, quite a number of members of the public have visited Bank of China outlets with some foreign currencies for consultation. After careful identification by the staff of the Bank of China, it was found that most of the foreign currencies are not freely convertible in China, such as Peruvian and Bolivian coins in South America. Through understanding, some of these foreign currencies were put in the packaging box by a liquor company for **, some were rewarded by the egg breaking competition, and some were deceived by the public.

    These foreign currencies are worthless, and in order to avoid the general public being deceived, the author suggests:

    According to the third paragraph of Article 27 of the Regulations of the People's Republic of China on the Administration of Renminbi, without the approval of the People's Bank of China, no currency shall be used in promotional materials, publications or other commodities. Although there is no provision that foreign currency cannot be traded**.

    However, liquor companies and other units have taken advantage of loopholes and played "side-kicks" in the hope of attracting the attention of the relevant management and supervision departments. Using these worthless foreign currencies can only make consumers happy, and cannot achieve the goal.

    Although these foreign currencies cannot be exchanged at banks, once they are used by people with ulterior motives to defraud, some citizens will inevitably be deceived. In order to prevent this kind of thing from happening, it is hoped that enterprises will stop such ** behaviors and reduce the flow of foreign currency to the society from the source.

    If the general public has foreign currency that they do not know, they should immediately go to the counter of the Bank of China for consultation and identification, and must not be greedy for small gains, listen to biased beliefs, and blindly exchange them, so as not to be deceived. (Xu Xiaoshan).

  2. Anonymous users2024-02-10

    Foreign currency The main reason why the renminbi is not freely convertible is - China's foreign exchange management system.

    According to the "Interim Measures for the Allocation and Use of Foreign Exchange", the main contents of China's foreign exchange management at that time included:

    1.Prohibit the circulation and use of foreign exchange in the country, and ban domestic foreign exchange black market transactions. Foreign exchange holders can sell to ** at the rate set by the state, or open a foreign currency deposit account in a bank.

    2.All foreign exchange for export commodities and labor income must be given or deposited in the State Bank; Foreign exchange required for import and other foreign exchange required for non-** purposes may be applied to the relevant authorities in accordance with regulations.

    3.Establish an independent and unified exchange rate system. The People's Bank of China formulates the RMB exchange rate in accordance with the principles of facilitating exports, encouraging overseas Chinese remittances, and accumulating foreign exchange funds, and adjusts them according to price changes.

    4.Stipulate the measures for the administration of foreign currency, gold and silver and renminbi entering and leaving the country. There is no restriction on the import of foreign currency, but it must be declared to the customs. Temporary visitors to China and diplomats can carry a certain amount of foreign currency, gold and silver out of the country with the declaration form, and RMB is prohibited from entering or leaving the country.

  3. Anonymous users2024-02-09

    The strength or credibility of the country is too low, or the state does not reserve the "money" of others at all

  4. Anonymous users2024-02-08

    Peru's currency was originally the sol (sol), but in 1985 a new currency was issued, 1 inti = 1000 sol, in 1991 Peru ** approved the issuance of a new currency, with a new sol instead of Inti, which is also the current currency in Peru, the original inti and sol have long ceased to circulate, 1 new sore = 1000000 inti.

    The banknotes currently in circulation are in the denominations of the Nuevo Sol, and the coins are cents and the Nuevo sol.

    Currently circulating in Peru is Nueva Sol, with a maximum face value of 200

    The old currency of 500 can be exchanged for RMB yuan "According to the original bank's algorithm", the Peruvian currency of 1987 has not been collected by banks in China since 1994. So, 500 Peruvian coins in 1987 is equal to waste paper!

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