Casinos supporting Chinese Yuan Currency

The Chinese yuan is the major form of currency for the People's Republic of China and a significant player on international monetary markets. It has been in use sporadically for centuries and has undergone a number of physical changes.

The yuan is often referred to colloquially as the "kuai," which means "lump" and refers to its original form as a lump of silver. The yuan coin as we know it today was first minted in a number of Chinese provinces between the end of the 19th century and through the first decade or so of the twentieth. Before that, banknotes were issued in yuan denominations.

The yuan started to fade away again between 1930 and 1949 and a number of other currencies were tried in various provinces. Soviet-influenced areas minted crude yuan coins and some banknotes were denominated in terms of strings of wen coins. After the defeat of Japan in 1945, China started focusing heavily on standardizing their currency in order to combat the influence of "puppet banks" set up during the war in the northern parts of the country. The modern yuan came out of these efforts.

The yuan is a driving force on currency exchange markets because of the vast number of people who use it.


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