Chinese Yuan (CNY) Exchange Rates Today
Live rates, 30-day trends, and real talk about what banks charge you for Chinese Yuan.
Mid-market rate - no bank markup 200+ currencies Free
What is the Chinese Yuan?
CNY trades within a daily band set by the PBOC. Offshore Yuan (CNH) trades more freely in Hong Kong and other markets.
Symbol: ¥ ISO code: CNY Central bank: People's Bank of China (PBOC)
BIS ranking: 5th most traded (the 5th most bought and sold currency worldwide) Used in: China (mainland)
This page is a hub for all CNY exchange rates on our site. Use the converter above to check the current mid-market rate for Chinese Yuan against any supported currency, or scroll down to browse individual pair pages with 30-day charts, historical data, and conversion tables.
How the Chinese Yuan exchange rate works
Managed float with daily fixing
The People's Bank of China sets a daily central parity rate (the "fixing") for USD/CNY each morning. The Yuan is allowed to trade within a +/- 2% band around this fixing during the day.
Onshore vs offshore Yuan
CNY (onshore) and CNH (offshore, traded freely in Hong Kong and other markets) can show slightly different rates. Most international conversions use the offshore CNH rate. China's capital account controls mean moving large sums into or out of the country requires approval from the State Administration of Foreign Exchange (SAFE).
ExchangeRates.com shows the official mid-market rate. Rates available through unofficial channels may differ and transacting at such rates may violate local regulations.
How Chinese Yuan is commonly exchanged
The Chinese Yuan trades within a daily band set by the People's Bank of China. Most international CNY conversion happens through USD/CNY. Offshore Yuan (CNH), traded more freely in Hong Kong, is what most foreign investors access. China's capital controls mean onshore and offshore rates can diverge slightly.
Most CNY conversions pass through one of the major pairs listed below. For less common combinations, rates are computed as cross-rates through USD or EUR, which may carry a slightly wider spread.
Practical notes for Chinese Yuan
Bank spreads
As a less liquid currency, CNY spreads at banks and exchanges tend to be wider than for major currencies - sometimes 4-6% at banks and up to 15% at airport counters. Online transfer services usually offer much tighter spreads for CNY.
Large transfers
For conversions above 10,000 CNY, consider a specialist FX broker rather than your bank. The difference in rate on a large transfer can be significant - even a 0.5% improvement on a large sum adds up quickly. Get quotes from at least two providers and compare the final amount the recipient would receive, not just the headline rate.
Local tip
China runs on mobile payments. Some international Visa and Mastercard cards can be linked to Alipay for tourist use - check the Alipay app before your trip.
The People's Bank of China (PBOC) and the Chinese Yuan
The People's Bank of China (PBOC) manages monetary policy through a combination of interest rates, reserve requirements, and direct FX market management.
Policy tool: The Loan Prime Rate (LPR), Medium-term Lending Facility (MLF) rate, and daily USD/CNY fixing. The PBOC does not follow a fixed meeting schedule like Western central banks.
Key data releases: Chinese GDP (quarterly), PMI data, trade balance, and any changes to the daily fixing methodology.
Moments that shaped the Chinese Yuan
2005 revaluation
On 21 July 2005, China abandoned its decade-long peg of 8.28 yuan per dollar, revaluing the currency by 2.1% and switching to a managed float against a basket of currencies. Source: People's Bank of China
2015 devaluation
In August 2015, the PBOC devalued the yuan by about 3% over three days - a small move by forex standards but seismic for a managed currency. Global markets sold off sharply on fears of competitive devaluation.
Did you know?
- China was the first civilization to use paper money, beginning with 'jiaozi' notes during the Song Dynasty (around 1024 AD) - roughly 600 years before Europe.
- China's currency has been called 'yuan' for over a century - it literally means 'round object.'
- The Chinese yuan is the 5th most-used currency in global payments.
Frequently asked questions
Is the Chinese Yuan strong or weak right now?
The strength of the Chinese Yuan fluctuates based on China's economic performance, interest rate differentials with other central banks, and capital flow dynamics. To assess whether the yuan is currently strong or weak, check the rate statistics and historical charts on this page, which show how CNY has traded against major currencies like the US dollar, euro, and Japanese yen.
The People's Bank of China actively manages the yuan's daily fixing, which influences its movement alongside market forces. Comparing the yuan's recent performance against its one-year, five-year, and ten-year averages using the tools above will give you context for its current position.
What factors affect the Chinese Yuan exchange rate?
The yuan's value reflects China's economic growth rates, inflation, interest rate decisions by the People's Bank of China, and the country's trade balance with major partners including the United States, European Union, and ASEAN nations. Capital flows - both foreign direct investment into China and Chinese outbound investment - significantly influence demand for the currency.
The PBOC's monetary policy stance, reserve requirement ratios, and the daily exchange rate fixing mechanism all play direct roles in moving the yuan. Additionally, global risk sentiment and commodity prices (especially crude oil, which China imports heavily) can shift the yuan as investors adjust their China exposure.
What is the outlook for the Chinese Yuan?
Rather than forecasting the yuan's direction, it's more useful to monitor the economic data that shapes its trajectory: China's GDP growth, inflation readings, the PBOC's interest rate decisions, and the country's current account position. Factors to watch include trade tensions with major economies, domestic credit growth, and capital account policies set by Chinese regulators.
Historical patterns show the yuan tends to strengthen when China's economic growth outpaces global peers and when interest rate differentials favor holding yuan-denominated assets. Use the pair pages and rate charts below to track how these developments influence the yuan's movements in real time.
Is the Chinese Yuan widely used internationally?
The Chinese Yuan has grown as an international currency but remains less widely used than the US dollar, euro, and British pound for global transactions and reserves. China actively promotes yuan internationalization through trade settlement agreements with partner nations, the Shanghai-Hong Kong Stock Connect programs, and the Belt and Road Initiative, which increases demand for yuan in bilateral trade.
The currency is tradable in major forex markets and is included in the International Monetary Fund's Special Drawing Rights basket, reflecting its status as a reserve currency. However, capital controls on moving money in and out of mainland China limit the yuan's free floating status compared to fully convertible currencies.
How do I compare CNY rates across providers?
Different currency exchange providers - banks, money transfer services, and forex platforms - quote different rates for the Chinese Yuan based on their own costs, margins, and market-making practices. Use the converter above to see ExchangeRates.com's live mid-market rates, then compare those against rates offered by your bank, a money transfer service, or a peer-to-peer platform when you need to actually exchange currency.
The spread between the buy and sell rates varies by provider and transaction size, so checking multiple sources before a large exchange can reveal meaningful savings. Keep in mind that rates update continuously during trading hours, and some providers may apply additional fees or markups beyond their quoted exchange rate.
How has the Chinese Yuan performed historically?
The Chinese Yuan's history reflects China's economic opening and the People's Bank of China's evolving approach to currency management. From 1994 to 2005, the yuan was pegged to the US dollar, then began gradual appreciation as China liberalized its exchange rate regime - a shift that reflected the country's growing economic strength and exports.
The global financial crisis of 2008-09 and subsequent periods of slower growth have seen the yuan move through different phases of appreciation and depreciation. Check the historical rate charts and performance data on this page to see how the yuan has traded against specific currency pairs over various timeframes, from one year to decades past.
How volatile is the Chinese Yuan?
The Chinese Yuan is moderately volatile compared to freely floating currencies like the US dollar and euro, largely because the People's Bank of China manages its daily fixing and sets bands within which the yuan trades. During periods of strong growth and capital inflows into China, the yuan tends to move steadily in one direction with lower daily swings; during risk-off events or economic slowdowns, volatility can spike as traders reassess China's outlook.
The yuan's volatility also depends on which currency pair you're examining - CNY/USD movements differ from CNY/EUR or CNY/JPY based on those currencies' own dynamics. Use the rate charts and volatility statistics on this page to compare the yuan's price swings across different time periods and against other major currencies.
What is the best way to exchange Chinese Yuan?
The best method depends on your situation: high-street banks offer convenience but typically charge wider spreads, while online currency exchange platforms and money transfer services often provide tighter rates for larger amounts. If you're exchanging yuan within China, major commercial banks and licensed money exchange shops are standard options; for international transfers out of mainland China, regulations require using authorized channels like bank wire transfers.
Peer-to-peer currency exchange platforms can be cost-effective for some routes, but they may have limits on the amount you can exchange and may not serve all currencies or countries. Compare the total cost - including any fees and the exchange rate markup - across providers using the converter above and your bank's or money transfer service's rate quotes before committing to an exchange.
Is Chinese yuan getting stronger?
To determine whether the yuan is strengthening, check the rate statistics and historical price charts on this page, which show CNY's movement against major currencies like the US dollar, euro, and others over different time periods. A stronger yuan means it buys more of another currency; looking at one-year, five-year, and longer-term trends will show you whether that's happening and how the yuan's recent direction compares to its historical average.
The strength or weakness of the yuan reflects China's economic fundamentals, the People's Bank of China's policy decisions, and global market conditions - so understanding these drivers alongside the price data will give you better context. Compare multiple currency pairs and timeframes using the tools available on this page rather than looking at any single recent move.
What is the cheapest way to send money internationally?
The cheapest method varies by destination, amount, and speed required, but generally peer-to-peer money transfer services and online forex platforms undercut traditional banks on fees and exchange rate markups for cross-border transfers. Some services are free or nearly free for certain routes and currencies, while others charge tiered fees based on the amount transferred.
Bank wire transfers can be expensive due to correspondent banking fees, but some banks offer favorable rates for larger amounts or to frequent customers. To find the cheapest option for your specific situation - such as sending Chinese Yuan to a particular country - compare the all-in cost (rate plus fees) across at least three providers rather than relying on advertised exchange rates alone, which often exclude hidden charges.
Is there a way to send money internationally for free?
Some money transfer services and digital payment platforms offer zero-fee transfers on specific routes or for specific account types, though these typically apply to transfers within the same service provider's network or to promotion periods with expiration dates. Banks rarely offer truly free international transfers; most charge fees regardless of the amount, though high-net-worth customers may negotiate fee waivers or consolidated pricing.
Cryptocurrency and blockchain-based transfers can be very inexpensive for certain corridors, but they involve conversion costs, regulatory uncertainty, and require both sender and recipient to use compatible platforms. For practical international transfers of Chinese Yuan or to China, check whether your bank or a money transfer service offers promotional zero-fee periods, whether you qualify for fee waivers based on account balance, or whether your transfer route benefits from a service provider's cost-competitive pricing.
What is the cheapest method to transfer money internationally?
International money transfer costs depend on the total fees (often $5-30) plus the exchange rate markup charged by the provider - so comparing the all-in cost across services matters more than looking at advertised rates alone. Online peer-to-peer money transfer services, such as those specializing in specific regional corridors, frequently undercut banks by using direct payment rails instead of correspondent banking networks.
For transfers involving Chinese Yuan, checking whether specialized services with strong China corridors or domestic partnerships charge lower fees than traditional banks can yield significant savings on larger amounts. Use rate quotes from at least three providers - your bank, a dedicated money transfer service, and a peer-to-peer platform - converted to the total amount you'll receive after fees and rate markup to identify the cheapest option for your specific transfer.
Learn more
- PBOC - Monetary Policy - People's Bank of China policy announcements
- IMF - China Country Page - Economic assessments and Article IV consultations
Chinese Yuan volatility profile
The Chinese yuan shows low volatility due to the People's Bank of China's managed float regime. The PBOC sets a daily reference rate and allows trading within a 2% band. This managed approach means CNY moves are more controlled than freely floating currencies.
Live volatility score updates when market data is available.
Cost to convert Chinese Yuan
Banks typically mark up CNY conversions by 3-5%. Specialist transfer providers offer rates much closer to the mid-market rate shown above, potentially saving you $30-55 on every 1,000 CNY you convert.
| Provider | Typical fee | You receive |
|---|---|---|
| Wise | Mid-market rate + ~0.5% fee | — |
| Revolut | Mid-market rate, free up to monthly limit | — |
| OFX | No fixed fees, ~0.4% spread | — |
| Typical bank | 3-5% markup + fixed fee | — |
Based on sending 1,000 CNY to US Dollar. Costs include spread markup and fees. See full CNY to USD comparison →
Compare Chinese Yuan with similar currencies
Chinese Yuan belongs to the following currency characteristic groups. Currencies within each group often move in correlated patterns.
Pegged and managed currencies
Central banks actively control these exchange rates through pegs, bands, or frequent intervention. Day-to-day volatility is lower, but structural adjustments can be sudden.
Asian trade bloc
Major Asian trading currencies linked by regional supply chains and trade flows. Movements in one often ripple through the others.
CNY rate statistics
Chinese Yuan rate context
We compare the current Chinese Yuan exchange rate against its recent trading range to help you decide whether now is a good time to convert. The live analysis updates throughout market hours.
Rate analysis updates when live data is available.
Forex Market Hours
The forex market is open 24 hours a day, five days a week. Trading passes between these major financial centers as the world turns.
| Market | Timezone | Local Time | Status |
|---|---|---|---|
| 🇦🇺 Sydney | AEST | — | — |
| 🇯🇵 Tokyo | JST | — | — |
| 🇬🇧 London | GMT/BST | — | — |
| 🇺🇸 New York | ET | — | — |
All CNY Currency Pairs
Live exchange rate pages for Chinese Yuan against every supported currency.