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20 Yuan
| Issuer | Central Bank of China |
|---|---|
| Year | 1948 |
| Type | Log in to see details |
| Value | 20 Yuan |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | THE CENTRAL BANK OF CHINA TWENTY YUAN 20 1948 |
| Signature(s) | Guo Taiqi and Yuysan Tsuyven |
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| Comments |
By mid-1948, the Central Bank of China was printing notes faster than the economy could absorb them. The Gold Yuan reform of August that year attempted to replace the collapsing Fabi currency at a rate of 3 million Fabi to 1 Gold Yuan — but even the replacement currency was being outpaced by inflation within weeks. Notes like this 20 Yuan piece had negligible purchasing power almost from the moment of issue.
Guo Taiqi had served as Chinese ambassador to Britain before his appointment as bank governor, a diplomatic rather than financial pedigree that reflected the institution's increasingly political character in its final years on the mainland.