XRP/CNY: what to know
The XRP/CNY rate shows how much CNY you get for 1 XRP. Right now, 1 XRP buys 9.0031 CNY at the mid-market rate. In the other direction, 1 CNY is worth 0.1111 XRP.
In the short term XRP is driven mainly by crypto-market sentiment and regulation, while CNY responds to PBoC decisions and Chinese growth.
XRP is designed for fast, low-cost payments and cross-border settlement. The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen.
Over the past 12 months the XRP/CNY rate has ranged between 6.6930 and 21.9132 — a change of -55.75% versus a year ago.
Because this pair involves a cryptocurrency, expect much higher volatility than typical fiat pairs. 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.