China’s ¥1 banknotes will soon be phased out of circulation, it has been announced. The People’s Bank of China Deputy Governor, Chen Yulu, said the paper notes would be discontinued after a successful pilot project phasing the notes out in Shandong province.

A ¥1 banknote.
A ¥1 banknote.

The country’s ¥1 coins, currently also in circulation, will be kept. China has in recent years phased out other small-denomination banknotes, including its ¥0.1, ¥0.2, ¥0.5 (1, 2, and 5 jiao) and ¥2 bills. Currently, ¥1 is worth around US$.15 cents. Proponents of phasing out the bills say that coins are more hygenic and last longer, while critics say coins seem ‘cheap’ and ‘inferior’. Read more: thenanfang.com

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NEPAL COUNTRYSIDE, OCTOBER 2018: CLOSE UP: Colorful tourist bus drives along a scenic road in the green Nepalese mountains. Old bus drives tourists and locals along the scary Pasang Lhamu highway.; Shutterstock ID 1495188476; GL: 65050; netsuite: Lonely Planet Online Editorial; full: How to get around Nepal; name: Brian Healy
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Colorful tourist bus drives along a scenic road in the green Nepalese mountains. Old bus drives tourists and locals along the scary Pasang Lhamu highway.

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