Interesting question: Can I change ANY foreign currency in China for RMB?

[liuzhou]

 

The parole board approved your release, did they?

 

Not quite. I escaped.

[sujeto]

[liuzhou]

 

It's courious, I can understand they won't accept lesser currency as mine, yet Mexico, Brasi, Argentina are all important economies with big relationship with china, what about others as arabia saudith, Southafrica, RUSIA?? or what ever. It's interesting to know that tha chineses only like to work with Anglo and near neighbor currencies?

 

Not really curious. The Chinese economy is one of the top world economies, yet its currency is exchangeable in few places. I bet if I turn up in your country with a handful of RMB, your local banks wouldn't change it either.

 

Not all currencies are exchangeable.

[sujeto]

[Johnny20270]

in financial markets, we use the term "non-deliverable currency". Chinese Yuan and VEB are examples of these currencies. So for example, Bank A in say 6 months time, agrees with Bank B to exchange USD for EUR , there always a physical exchange of currency. With Yuan and others there isn't, its just a settling up of how much the currencies have appreciate / depreciated relative each other. The idea of a non deliverable currency is that a bank may not actually want that currency (VEF) or government restrictions make it not freely tradeable (CNY)