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Chinese shell money, 16–8th century BC. Money cowry; length 2.6 cm; Palou Tello, Batu Islands, Indonesia. In China, cowries were so important that many characters relating to money or trade contain the character for cowry: 貝. Starting over three thousand years ago, cowry shells, or copies of the shells, were used as Chinese currency. [11]
Old Chinese Currency used in 1920–23. This currency was also used in Hunza state.. The use of shell money is attested to in the Chinese writing system.The traditional characters for 'goods' (貨), 'buy/sell' (買/賣), and 'monger' (販), in addition to various other words relating to 'exchange', all contain the radical 貝, which is the pictograph for shell (simplified to 贝).
In the Zhou period, they are frequently referred to as gifts or rewards from kings and nobles to their subjects. Later imitations in bone, stone or bronze were probably used as money in some instances. Cowrie shell imitation in green bone, China, Western Zhou Dy (1046 BC-771 BC)-Jin State; length: 40.3 mm
'People's Currency' Chinese pronunciation: [ʐə˧˥nmi˧˥npi˥˩]; symbol: ¥; ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the People's Republic of China. [a] The renminbi is issued by the People's Bank of China, the monetary authority of China. [3]
This became the sole currency of mainland China at the end of the civil war. A new yuan was introduced in 1955 at a rate of 10,000 old yuan = 1 new yuan, known as the renminbi yuan. It is the currency of the People's Republic of China to this day. The term yuan is also used in Taiwan.
A mutiny is taking place in the global currency market, with a growing number of countries ditching the U.S. dollar in favor of China’s yuan — at least, that’s the rumor going around.
A Huo Quan (貨泉) cash coin Xin dynasty coinage (Traditional Chinese: 新朝貨幣) was a system of ancient Chinese coinage that replaced the Wu Zhu cash coins of the Han dynasty and was largely based on the different types of currencies of the Zhou dynasty, including knife money and spade money. [1]
“China has now seen consistent and large outflows for the past 18 months, as investors grow wary of autocracies,” IIF chief economist Robin Brooks wrote in a Sunday post.