Currency, Traveler’s Cheque, Credit Card and Bank
Hangzhou uses only Chinese currency RMB. The unit of RMB is Yuan. The fractional currency is Jiao and Fen. 1 Yuan equals 10 Jiao and 1 Jiao is 10 Fen. The abbreviated symbol of RMB is RMB￥. Bank of China and other foreign exchange nominated banks handle exchange of main foreign currencies in cash and Taiwan new dollar. Some hotels, marketplaces and airports can also handle exchange of foreign currencies to RMB. USD1 is about RMB7.58. (Note: follow up the exchange rate of the daily published by the bank).

  Bank of China can cash traveler’s cheques of international commercial banks and traveler’s cheques companies of USA, Canada, Australia, Hong Kong, Japan, UK, France, Switzerland and Germany. Five foreign credit cards of Visa Card, Master Card, Diners Card, American Express Card and JCB Card are accepted. Cardholders may take cash from Bank of China or purchase goods and consume from marketplaces, restaurants and hotels that have engaged by special arrangement with Bank of China.