USD/CNY: what to know
The USD/CNY rate shows how much CNY you get for 1 USD. Right now, 1 USD buys 6.7168 CNY at the mid-market rate. In the other direction, 1 CNY is worth 0.1489 USD.
In the short term USD is driven mainly by Fed policy, US growth and global risk appetite, while CNY responds to PBoC decisions and Chinese growth.
The US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars. The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen.
Over the past 12 months the USD/CNY rate has ranged between 6.7192 and 7.1400 — a change of -5.86% 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.