Currencies of China - Japanese Occupation Money - Manchuria

Manchuria

At the time of invasion of China's northeast in 1931, multiple currencies were circulating. These included local provincial issues, the Kuomintang fabi and Yen currencies issued by the Bank of Chosen and the Bank of Taiwan.

After the puppet state of Manchukuo was created, the Japanese founded the Central Bank of Manchou on July 1, 1932 in Changchun (長春), then known as Hsinking (新京). While the bank provided commercial functions, it also acted as a central bank and issuer of currency. The Manchukuo yuan was initially set at 1 Manchukuo yuan = 23.91g silver, but became pegged to the Japanese Yen at 1:1 in 1935 after Japan left the gold standard. The currency lasted until the end of World War II. It was replaced by the Northeastern Provinces Yuan issued by the Central Bank of China.

Read more about this topic:  Currencies Of China, Japanese Occupation Money

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