AUD/CNY: what to know
The AUD/CNY rate shows how much CNY you get for 1 AUD. Right now, 1 AUD buys 4.8125 CNY at the mid-market rate. In the other direction, 1 CNY is worth 0.2078 AUD.
In the short term AUD is driven mainly by commodity prices and Chinese demand, while CNY responds to PBoC decisions and Chinese growth.
The Australian Dollar (AUD) is issued by Reserve Bank of Australia. Australia pioneered polymer banknotes in 1988 — more durable and harder to counterfeit. The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen.
Over the past 12 months the AUD/CNY rate has ranged between 4.5773 and 4.9361 — a change of +1.92% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.