Renminbi (RMB) is the circulating currency in China with yuan (￥) being its monetary unit. In Tianjin dialect can also be called 'kuai'. The currency has various values of 1 jiao, 5 jiao, 1 yuan, 5 yuan, 10 yuan, 20 yuan, 50 yuan, and 100 yuan. 1 jiao, 5 jiao, 1 yuan have both bill and coin forms. The highest value of RMB is 100 yuan. (bill picture)
All banks in Tianjin accept China UnionPay, which is a bankcard association approved by The People’s Bank of China and founded by more than 80 domestic financial institutes that utilizes an inter-bank transaction settlement system.
Most banks in Tianjin provide currency exchange services covering U.S. dollar, euro, yen, and Hong Kong dollar, etc. In addition, all branches of Bank of China in Tianjin offers money exchange services of 17 currencies including pound, Swiss franc, Singapore dollar, Swedish krona, Norwegian krone, Danish krone, Canadian dollar, Australian dollar, Philippine peso, Thai Baht, South Korean won, Macao Pataca, and New Taiwan dollar.
In addition, major banks and hotels in Tianjin accept traveler's cheques.
