Matt Schiavenza From the Dragon to the Apple- A Sinophile in New York

25Sep/070

A Note About Currency

Just to clear up any confusion, here is a legend for deciphering my references to money.

As an American who lives in China, I think in two currencies: the US dollar and the Chinese yuan. Currently, the US dollar is worth about 7.5 yuan, down from 8.2 when I moved to China in 2004.

Most of you know that the most common slang term for a US dollar is "bucks". Others exist but I only ever refer to dollars or bucks. They're interchangeable.

In China, the currency is called 人民币 (Ren2min2bi4) or "people's currency". The other official name for the currency is 元 (yuan2) which basically means "dollar". The nationally used slang term for yuan is 块 (kuai4) which literally means "piece".

So if you read that I spent 50 kuai on something, think of it as 50 yuan or about $6.75.

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