Chinese National Currency

Last updated
Chinese National Currency
CNC$
ROC Fabi.jpg
100-yuan banknote
Denominations
Subunit
110角 (jiao)
1100分 (fen)
Demographics
Date of introduction1935
Date of withdrawal19 August 1948
Replaced by Chinese gold yuan
User(s) China
This infobox shows the latest status before this currency was rendered obsolete.

The Chinese National Currency (CNC), [1] often transliterated as fapi [2] or fabi [a] [3] or translated as Legal Tender Note, [4] was the currency of China between 1935 and 1948. [4] [3] Introduced in the 1935 currency reform, the currency was initially issued by the Central Bank, the Bank of China, the Bank of Communications and later the Farmer's Bank of China. In June 1942, it became solely issued by the Central Bank. It was replaced by the Gold Yuan in August 1948. [4]

Contents

See also

Note

Related Research Articles

<span class="mw-page-title-main">Renminbi</span> Currency of China

The renminbi, also known as the Chinese yuan, is the official currency of the People's Republic of China. The renminbi is issued by the People's Bank of China, the monetary authority of China. It is the world's fifth-most-traded currency as of April 2022.

<span class="mw-page-title-main">Australian dollar</span> Official currency of Australia

The Australian dollar is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. In April 2022, it was the sixth most-traded currency in the foreign exchange market and as of Q1 2024 the sixth most-held reserve currency in global reserves.

<span class="mw-page-title-main">Canadian dollar</span> Currency

The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $. There is no standard disambiguating form, but the abbreviations Can$, CA$ and C$ are frequently used for distinction from other dollar-denominated currencies. It is divided into 100 cents (¢).

<span class="mw-page-title-main">Nigerian naira</span> Currency of Nigeria

The naira is the currency of Nigeria. One naira is divided into 100 kobo.

<span class="mw-page-title-main">Legal tender</span> Medium of payment recognized by law

Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.

<span class="mw-page-title-main">Pound sterling</span> Currency of the United Kingdom

Sterling is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word pound is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling.

<span class="mw-page-title-main">Banknotes of the pound sterling</span> Promissory notes denominated in pounds sterling

The pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha.

The Hong Kong dollar is the official currency of Hong Kong. It is subdivided into 100 cents. Historically, it was also subdivided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.

The New Taiwan dollar is the official currency of the Republic of China. Usually, the $ sign precedes the amount, but NT$ is used to distinguish from other currencies named dollar. The New Taiwan dollar has been the currency of the island of Taiwan since 1949, when it replaced the old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar. The base unit of the New Taiwan dollar is called a yuan (圓), subdivided into ten chiao (角) or 100 fen (分), although in practice neither chiao nor fen are used.

<span class="mw-page-title-main">Indian rupee</span> Official currency of the Republic of India

The Indian rupee is the official currency in the Republic of India. The rupee is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management based on the Reserve Bank of India Act, 1934.

<span class="mw-page-title-main">Sri Lankan rupee</span> Currency of Sri Lanka

The Sri Lankan Rupee is the currency of Sri Lanka. It is subdivided into 100 cents, but cents are rarely seen in circulation due to its low value. It is issued by the Central Bank of Sri Lanka. The abbreviation Re (singular) and Rs (plural) is generally used, the World Bank suggests SL Rs as a fully disambiguating abbreviation for distinction from other currencies named "rupee".

<span class="mw-page-title-main">Pakistani rupee</span> Currency of the Islamic Republic of Pakistan

The Pakistani rupee is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan. It was officially adopted by the Government of Pakistan in 1949. Earlier the coins and notes were issued and controlled by the Reserve Bank of India until 1949, when it was handed over to the Government and State Bank of Pakistan, by the Government and Reserve Bank of India.

<span class="mw-page-title-main">Cuban peso</span> Currency

The Cuban peso also known as moneda nacional, is the official currency of Cuba.

<span class="mw-page-title-main">Trinidad and Tobago dollar</span> Currency

The Trinidad and Tobago dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. Cents are abbreviated with the cent sign ¢, or TT¢ to distinguish from other currencies that use cents. Its predecessor currencies are the Trinidadian dollar and the Tobagonian dollar.

<span class="mw-page-title-main">Liberian dollar</span> Currency of Liberia

The dollar has been the currency of Liberia since 1943. It was also the country's currency between 1847 and 1907. It is normally abbreviated with the sign $, or alternatively L$ or LD$ to distinguish it from other dollar-named currencies. It is divided into 100 cents.

The Irish Free State, subsequently known as Ireland, resolved in the mid-1920s to design its own coins and banknotes. Upon issuing the new currency, the Free State government pegged its value to the pound sterling. The Currency Act, 1927 was passed as a basis for creating banknotes and the "Saorstát pound" as the "standard unit of value." The legal tender notes issued under this act began circulating on 10 September 1928.

<span class="mw-page-title-main">Banknotes of the Hong Kong dollar</span>

The issue of banknotes of the Hong Kong dollar is governed in the Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board and central bank of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. Notes are also issued by the HKMA itself.

<span class="mw-page-title-main">Chinese customs gold unit</span> Former currency of China

The customs gold unit (CGU) was a currency issued by the Central Bank of China between 1930 and 1948. In Chinese, the name of the currency was 關金圓 but the English name given on the back of the notes was "customs gold unit". It was divided into 100 cents (關金分). As the name suggests, this currency was initially used for customs payments, but in 1942 it was put into general circulation for use by the public at 20 times its face value in terms of the first Chinese yuan.

<span class="mw-page-title-main">United States dollar</span> Currency

The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.

<span class="mw-page-title-main">500 euro note</span> Banknote of the European Union

The five-hundred-euro note (€500) is the highest-value euro banknote; it was produced between the introduction of the euro in 2002 until 2019. Since 27 April 2019, the banknote has no longer been issued by central banks in the euro area, but it continues to be legal tender and can be used as a means of payment.

References

  1. "The Ambassador in China (Stuart) to the Secretary of State". Office of the Historian, Foreign Service Institute, United States Department of State. 4 January 1949. Archived from the original on 3 April 2021. Retrieved 17 November 2024. On the first of January, 1948 the Chinese National Currency was quoted on Shanghai's black market at about 140,000 to US$1.00.
  2. "China (Currency). Volume 368: debated on Tuesday 11 February 1941". UK Parliament. 11 February 1941. ...having regard to the competition of the fapi (Chinese national currency)...
  3. 1 2 Tan, Ying Jia (2021). Recharging China in War and Revolution, 1882–1955. Cornell University Press. doi:10.1353/book.84825. Archived from the original on 2024-09-13. Retrieved 2024-11-17 via Project MUSE.
  4. 1 2 3 "Legal Tender Note". The Central Bank of the Republic of China (Taiwan). 2020. Retrieved 2024-11-17.