B3376, China Reconstruction Bond, China Farmers Bank 10 Dollars, 1945

B3376, China Reconstruction Bond, China Farmers Bank 10 Dollars, 1945.

Fine condition, please refer the picture, circulated.

Issued in 1945 by China Farmer’s Bank. The face value is 10 China Dollars.

It is a kind of government bond, but it can be circulated in the market as legal banknotes. It is the emergency notes issued during the war, to solve the fiscal problems, without leading to inflation.

The interest rate is different from different duration.

Duration half year: 6% annum.
Duration 1 year: 7.1% annum.
Duration 2 years: 7.95% annum.
Duration 3 years: 9.98% annum.