Tuesday, May 6, 2008

Cash is King

Payment for our airline tickets were due. Since China is almost an all cash economy and there is a daily limit of withdrawals (varies between $250 - $500 per day) from foreign accounts, stops over several days to this ATM was necessary.

Here's the loot: a little more than 18,000 Yuan. That's about $2700 for three tickets from Kunming to Detroit. I think $900 per ticket is a good deal considering the vast distance and all the talk about rising prices. (My ticket is paid for by the university.) The Chinese currency is the Renmimbi (RMB), called Yuan or the slang term Kwai. The one-hundred note (about $14) is the largest denomination. And yes, the good ol' Chairman's mug is on every single one.

A side view showing the thickness. Imagine having almost three thousand dollars in tens and twenties!

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