Chinese Currency Exchange Rate British Pound - Currency Name and Facts About Money Used in China
Want to know more about using your bank cards or credit cards in China as well as bank opening hours to exchange your British currency into the local currency used in China?
Chinese Currency is named Yuan. 1 Yuan is split into 100 Fen. The Yuan is released by the Bank of China. The forex code for Yuan is ALL. The currency exists in both Paper and Coin forms.
The Chinese currency information and how to buy Chinese money in the United Kingdom or send money to China from the United Kingdom are presented down below. If you require information such as Chinese visas, visa application forms, and other travel information please use the dropdown menu, below.
Chinese Currency Symbols: Yuan, Fen
Chinese ISO 4217 Code: CNY
Chinese Central Bank: The People's Bank of China
Chinese Currency Subunits: Fen = 1/100 of a Yuan
Chinese Currency Denominations:
Notes: ¥0.1, ¥0.2, ¥0.5, ¥2, ¥1, ¥5, ¥10, ¥20, ¥50, ¥100 Yuan
Coins: ¥0.01, ¥0.02, ¥0.05, ¥0.1, ¥0.5, ¥1
Money Exchange Rate for Chinese Yuan to British Pound
Click on Chinese Yuan Currency Rates for the latest exchange rates of Yuan to British Pound.
China Money Exchange Rate - The majority of the foreign currencies, like Stirling Pound or US Dollar, might be changed at banks, bureaux de change and air terminals, railway stations, ports & big hotels in China at the official exchange rates.
Currency Exchange Rates can fluctuate over time due to various political, economical and market factors. A higher currency exchange rate means that the value of one currency has increased compared to another, while a lower exchange rate means the opposite.
Exchange rates are critical when travelling to China from the United Kingdom, buying goods and services from, or sending money to China.
The Yuan is one of over 150 currencies around the world and it trades against all other official currencies of countries around the globe, thus giving us exchange rates: a measure of how much of one Yuan exchange rate for British Pound or other currencies.
Travelling from the United Kingdom and What is the Best Currency to Take to China?
When travelling to China from the United Kingdom, figuring out the best way to pay for things in China can be tricky as this country has different banking system, money customs and currency. Thankfully, many forms of payments have become avaiable around the world, including:
- Credit Cards: Mastercard and VISA credit cards are generally accepted in China, especially in hotels and high end restaurants.
- Debit Cards: Debit cards linked to your bank account in the United Kingdom let you make purchases at point-of-sale terminals and withdraw cash in China.
- Cash: Having some Yuan banknotes could help for small purchases, tipping, and emergencies. You can typically exchange currency at a bank or exchange bureau before or upon arrival.
- Mobile Payments: Mobile payment services like Apple Pay, Google Pay, or Alipay are an increasingly popular way to pay, but you will need to check beforehand how available these methods are in China.
- Prepaid Travel Cards: A reloadable debit card with a Yuan balance can give you good value, security, and convenience.
Sending Money to China from the United Kingdom
Every year, many people send money to Albania for all kinds of reasons. These include supporting friends or family, paying for someone’s tuition, settling business transactions, purchasing or upgrading property, and many others.
If you want to send an international money transfer to a lek bank account in Albania, then you should be aware of the high fees and exchange rates that go along with global money transfers with your international bank (these fees often constitute more than 10% of your transfer amount — you can read all about this in our dedicated explainer here).
Fortunately, international money transfers are a competitive market with many trustworthy alternative providers jostling to offer you the best exchange rates (rates which almost always far outdo those you’ll find at the bank!).
However, because the cheapest provider to send money abroad differs depending on factors such as where you’re sending from, the amount you’re sending, the payment method and others, we recommend skipping the hassle and finding the cheapest provider in real time live comparison tool below.
What is the best way to get lek in China?
The best way to get lek in Albania varies depending on your needs and preferences. In general, you can use your debit or credit card to spend money in Albania or ask your bank whether they offer a specific multi-currency card that supports lek balances.
However, this method can rack up higher-than-expected charges, and if you’re looking for the best fees and exchange rates, we recommend exploring online travel card leaders like the Wise Account and Revolut, which offer incredibly low-cost spending in dozens of currencies globally to see if they’re available in your country.
Is it better to use Prepaid Travel Money Card in China?
Using a prepaid travel card is almost always the best way to pay in China because they generally incur lower fees on Yuan currency exchange from British Pound than credit cards or bank debit cards do. Moreover, many prepaid travel cards let you hold multi-currency balances, allowing you to dodge sneaky fees while travelling — all while providing the same level of security and convenience as you are used to from your credit or debit card!
Depending on who you bank with you may be able to find a prepaid travel card from your bank in the United Kingdom. Still, we recommend using a global prepaid travel credit card provider because it offers excellent exchange rates, multi-currency balances, and a travel debit card that allows you to spend on your holiday like a local and enjoy peace of mind after each tap, swipe, or cash withdrawal.