The Seven Wonders of the World embodies the indefatigable human spirit, their adroit endeavours and unflagging toil. The Ancient wonders are reminiscent of a world long lost; the Modern wonders represent the limitless boundaries of human skill and technology while the Natural wonders are proof of the many marvels in nature. Learn about the Seven Wonders of the World and get all the related facts through our comprehensive listing of informative sites.
An idea on the currency exchange rates in China can be had from Allwondersoftheworld.com
HOME

The Seven Wonders of the Ancient World
 
The Great Pyramid of Giza
The Hanging Gardens of Babylon
The Temple of Artemis at Ephesus
The Statue of Zeus at Olympia
The Mausoleum at Halicarnassus
The Colossus of Rhodes
The Pharos of Alexandria
The Seven Natural Wonders of the World
 
Mount Everest
The Great Barrier Reef
The Grand Canyon
Victoria Falls
The Harbor of Rio de Janeiro
Paricutin Volcano
The Northern Lights
The Seven Underwater Wonders of the World
 
Palau
The Belize Barrier Reef
The Galapagos Islands
The Northern Red Sea
Lake Baikal
The Great Barrier Reef
The Deep Sea Vents
The Seven Wonders of the Medieval Mind
 
Stonehenge
The Colosseum
The Catacombs of Kom el Shoqafa
The Great Wall of China
The Porcelain Tower of Nanjing
The Hagia Sophia
The Leaning Tower of Pisa
The Seven Wonders of the Modern World
 
The Empire State Building
The Itaipú Dam
The CN Tower
The Panama Canal
The Channel Tunnel
The North Sea Protection Works
The Golden Gate Bridge
The Seven Forgotten Natural Wonders of the World
 
Angel Falls
The Bay of Fundy
Iguaçú Falls
Krakatoa Island
Mount Fuji
Mount Kilimanjaro
Niagara Falls
The Seven Forgotten Modern Wonders of the World
 
The Clock Tower (Big Ben)
Eiffel Tower
The Gateway Arch
The Aswan High Dam
Hoover Dam
Mount Rushmore National Memorial
The Petronas Towers
The Seven Forgotten Wonders of the Medieval Mind
 
Abu Simbel Temple
Angkor Wat
Taj Mahal
Mont Saint-Michel
The Moai Statues
The Parthenon
The Shwedagon Pagoda
The Forgotten Wonders
 
The Aztec Temple
The Banaue Rice Terraces
The Borobudur Temple
The Inca City
The Statue of Liberty
The Mayan Temples
The Temple of the Inscriptions
The Throne Hall of Persepolis
Petra
The Suez Canal
The Sydney Opera House
The Red Fort in India

Currency Exchange Rates in China

Renminbi (implying "people's currency" in China) is the official currency of the People's Republic of China, whose monetary authority is the People's Bank of China. Chinese currency is issued by the People's Bank of China. The Chinese currency is also referred to as Yuan and Kuai, colloquially. CNY is the official ISO 4217 abbreviation of China's currency. Mainland China's currency was pegged to the US dollar at 8.28 RMB. However, it was revalued to 8.11 per US dollar on July 21, 2005 after the peg to the US dollar was removed. This revaluation was a result of the pressure from the United States and the World Economic Council. The People's Bank of China announced that rather than being strictly tied to the US dollar, the Chinese currency would be pegged to a basket of foreign currencies.


This basket is dominated by a group of international currencies which includes the US dollar, Euro, Japanese Yen, and South Korean Won, along with the British pound, Thai baht and Russian ruble.

The Chinese currency renminbi was first issued in 1949 just before the takeover of China by the Communists. From 1978 onwards renminbi was usable only domestically with a dual track currency system which lead to a strong black market in terms of currency transactions across mainland China.

China worked towards making the renminbi more convertible during the late 1980s and the early 1990s. The renminbi is convertible on current accounts but is not convertible on any capital account. The exchange rate was brought to realistic terms with the help of swap centers. The G7 as well as the European Union are in favor of re-evaluating the exchange rate. The government of China has resisted the pressure to increase the value of the Chinese currency because according to them, an increase in the value of the Chinese currency would cause mainland Chinese jobs to disappear and it would also expose domestic banks to currency risks which they are not quite ready to handle.

Know more about China:


In order to know more on the Currency Exchange Rates in China please log on to: Allwondersoftheworld.com.
About Us          Contact Us         Site Map         Disclaimer
Compare Infobase Limited
202 Shrikant Chamber Near R K Studio,
S. T. Road, Chembur Mumbai-400071
Tel: +91-22-25218542
You may contact between 09.30 to 18.00 hours IST
mumbai@infobase.in
Copyright © 2006-2007 Compare Infobase Limited. All Rights Reserved.