Foreign Exchange Daily Range Of Currency Pairs
The history of money in China is a long one. The earliest item recorded in China as a medium of exchange was the cowrie, the attractive shell of a marine snail, used by the late Xia dynasty (2070 BC – 1600 BC). Cowries were an early form of currency in many parts of the globe.
Use of the cowrie in China continued for a thousand years. The Shang dynasty (1600 BC – 1046 BC) was the first to modify the natural currency, marking teeth along one edge of the shells and inserting a hole for stringing them together. As cowries were in limited supply (hence their value as a currency), in time replications were brought into circulation made of stone, other seashells, bone and bronze.
The First Appearance of Chinese Coins
Bronze cowries were thus the first forms of Chinese coin money, appearing in the Chu State of the Warring States period (475-221 BC). They were cast with character inscriptions depicting various animals and symbols of relevance.
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