¥ Chinese Yuan
Currency Code: CNY
Currency of mainland China. Increasingly important in global trade and finance.
Issuing Authority
People's Bank of China (PBOC)
Key Features
Largest Exporter
China is the world's largest exporter. CNY essential for trade.
Growing Reserve Currency
Increasing adoption as reserve currency by central banks.
Capital Controls
PBOC manages conversion limits. Not fully convertible.
Economic Scale
Backed by China's massive economy. Second-largest GDP globally.
Popular Corridors
US → China
Hong Kong → China
Singapore → China
Vietnam → China
Frequently Asked Questions
What is the CNY/USD rate?
Approximately ¥6.50-7.00 = $1 USD. Managed by PBOC.
Can I freely convert CNY?
No, PBOC controls conversion. Annual limit of $50k per person.
Is CNY fully convertible?
Not fully. Convertibility restricted for outbound transfers.
What is the difference between CNY and CNH?
CNY is mainland China currency. CNH is Hong Kong-traded offshore yuan.
Can I hold CNY in foreign banks?
Yes, but transfers have restrictions. Check with your bank.