Chinese-Banknote-Commemorates-70th-Anniversary-of-National-Currency

Chinese Banknote Commemorates 70th Anniversary of National Currency

29 Nov 2018  Thu

On 23rd November, the People’s Bank of China issued a commemorative 50-yuan banknote to celebrate the 70th anniversary of their national currency, Renminbi. Measuring 150 millimetres in length and 70 millimetres in width, the size of the new commemorative note is similar to the regular 50-yuan banknote from China's fifth series of banknotes.

The obverse of the new note features designs of tree rings and different elements from banknotes of the previous five sets. The reverse features images of the Central Bank’s current and old building, peonies and the issue notice for the first set.

120 million commemorative notes will be circulated but they are not a part of China’s sixth set of renminbi banknotes. The first batch was issued yesterday while the second batch will be issued on 11th January in certain territories like Liaoning, Jilin, Heilongjiang, Jiangsu, Shandong, Hubei and Guangdong.

Apart from the banknotes, a 5-gram 80 yuan (face value) gold coin with a diameter of 20 millimetres, a 1-kilogram 300 yuan (face value) silver coin with a diameter of 100 millimetres and a 15-gram 5 yuan (face value) silver coin with a diameter of 33 millimetres will be released with a mintage limit of 30,000, 3,000 and 60,000 pieces, respectively.

Image Courtesy: Banknotenews