CNY/USD: what to know
The CNY/USD rate shows how much USD you get for 1 CNY. Right now, 1 CNY buys 0.1489 USD at the mid-market rate. In the other direction, 1 USD is worth 6.7168 CNY.
In the short term CNY is driven mainly by PBoC decisions and Chinese growth, while USD responds to Fed policy, US growth and global risk appetite.
The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen. The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars.
Over the past 12 months the CNY/USD rate has ranged between 0.1401 and 0.1488 — a change of +6.23% 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.