The legal tender of the Republic of China is the currency issued by the national government during the Republic of China. 1October 4th 1935, 165438+ stipulates that the bank notes issued by the central bank, the Bank of China and the Bank of Communications (followed by the Farmers Bank of China) are legal tender, and the circulation of silver is prohibited, and national credit legal tender is issued instead of silver dollar. Silver and silver dollars stored by financial institutions and non-governmental organizations are collected and exchanged by the central bank. At the same time, it is stipulated that the exchange rate of legal tender is 1 yuan, which is equal to 1 shilling 2.5p, and foreign exchange is traded by the central government, China and China, which is the gold standard. After the outbreak of War of Resistance against Japanese Aggression, the government implemented the foreign exchange control policy, and legal tender became the paper currency standard. Recover other banknotes within a time limit. It also stipulates that all public and private funds must be received and paid in legal tender, and the market silver dollar will be nationalized, 1 legal tender exchange 1 silver dollar. The legal tender was originally linked to the pound and can be exchanged indefinitely in designated banks. 1936 After the National Government negotiated with the United States, China sold silver to the United States in exchange for foreign exchange reserves issued by the US dollar as legal tender, which was linked to the British pound and the US dollar. 1948 August19 was replaced by a gold coupon.