The tables are based on the average exchange rate through 2008. The Yuan floats on the open market, but not as rapidly as other currencies. At this writing, the Chinese government partially stabilizes their currency. For many years, it was held artificially at 8.2-8.4 yuan to the dollar. The value has increased by about 25% since 2004. It has made approximately a 2% correction (6.35 down to 6.12 yuan per dollar) in the past year. Many economists think that the yuan is still undervalued compared to Western currencies. I only update this page when there is a major change in value.

Check the current exchange rate with your local bank or on the Internet. If it's close, print the tables and read them on the plane, they'll put you right to sleep.  Get used to the amounts.  When you are actually shopping, carry a calculator.  Do the conversion each time you are tempted to buy something.  It is so easy to get confused with foreign exchange.  It is tempting to think of 10 yuan as $1.50, but when you get up to 200 yuan, you are actually spending $32.64 - and that's a bit more than $30.

Bargaining is part of Chinese commerce.  Avoid the set price stores such as the Friendship Store and factory stores.  If you want to meet people go to the markets to shop for souvenirs.  Take your calculator and a sense of fun.  Both the shop assistant and you should be enjoying the bargaining.  If either of you isn't feeling good about the transaction, walk away.  There are so many beautiful things in China, you will find another.  Take your time to shop.  Look at everything carefully - this will drive your guide nuts, but shopping is a cultural experience and an enjoyable one if done right.  It is expected that you will carefully inspect anything you buy and keep smiling. Anger only drives the price up.  Play with the sample, but only unpack the new one you intend to purchase if you are intending to buy.  You will be considered an intelligent shopper.  If it requires batteries, insert them and test the item.  Check to make sure sleeves are long enough - both of them.  If you don't have time to check, don't buy.  It is a long way back to make a return.

Go to China Page
 
 
 
 

  Return to the Chinese English Study Center and Main Menu

http://hua.umf.maine.edu/Chinese/faq/conver.html
Last update:  May, 2013
© Marilyn Shea, 2000, 2002, 2009, 2010, 2012， 2013