Chinese Yuan Renminbi

Chinese Yuan Renminbi

The renminbi (Ab.: RMB; simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally: "people's currency"; sign: 元; code: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where "Chinese yuan" is widely used to refer to the renminbi. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority of China.Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the American Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th by 2015.On 1 October 2016, the RMB became the first emerging market currency to be included in the IMF's special drawing rights basket, the basket of currencies used by the IMF (reserve currency).

US Dollar

US Dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its territories per the United States Constitution since 1792. For most practical purposes, it is divided into 100 smaller cent (¢) units, but is occasionally divided into 1000 mills (₥) for accounting purposes. The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars (12 U.S.C. § 418). Since the suspension in 1971 of convertibility of paper U.S. currency into any precious metal, the U.S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U.S. dollar is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (such as the Sacagawea or presidential dollar). As of June 27, 2018, there are approximately $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes (the remaining $50 billion is in the form of coins).

6 Chinese Yuan Renminbi to US Dollar exchange rates chart

6 CNY to USD exchange rates graph
6 CNY to USD Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

6 CNY to USD exchange rates table

Exchange CNY to USD
6 Chinese Yuan Renminbi = 0.866 US Dollar
12 Chinese Yuan Renminbi = 1.732 US Dollar
30 Chinese Yuan Renminbi = 4.329 US Dollar
60 Chinese Yuan Renminbi = 8.658 US Dollar
Exchange Chinese Yuan Renminbi to US Dollar
6 Chinese Yuan Renminbi to US Dollar Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

Best CNY/USD rate at Bank of China in Shanghai

6 CNY to USD exchange rates at Bank of China in Shanghai
6 Chinese Yuan Renminbi = 0.862 US Dollar
Bank of China
Bank of China

Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing China’s financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community, despite...

Best CNY/USD rate at LA Currency in Los Angeles

6 CNY to USD exchange rates at LA Currency in Los Angeles
6 Chinese Yuan Renminbi = 0.807 US Dollar
LA Currency
LA Currency

Frequently Asked Questions No, we do not have any fees and our adjusted, real-time exchange rates can be found on our website. You can always find out how much you will get for your currency or how much you will need to buy currency. Make sure to refresh the browser to get updated rates. Yes, we have free parking at both our locations that are in a shopping plaza with a convenient parking lot and a security personnel. Cash to cash is our preferred payment method. However, only debit cards...

6 CNY to USD exchange rates news

African swine fever suspected to be in animal feed in China
African swine fever suspected to be in animal feed in China

Feed, hog producer Tangrenshen says disease suspected in unit's feed; Follows an outbreak on a farm of 8,000 pigs in Anhui

conditional neutral
METALS-Nickel drops for 3rd session to 11-mth low on strong dollar

Nickel prices on both the London and Shanghai exchanges fell on Monday to near 11-month lows due to pressure from a strong U.S. dollar and concerns over economic growth in China.

indicative positive
China reports new African swine fever outbreak in Anhui province
China reports new African swine fever outbreak in Anhui province

Outbreak infects 96 pigs on Anhui farm, killing 47; China has reported over 50 African swine fever cases since Aug; Pork producer Tangrenshen says.

indicative neutral
China's Ruyi, pretender to LVMH's throne, plots more "affordable luxury" deals
China's Ruyi, pretender to LVMH's throne, plots more "affordable luxury" deals

HONG KONG/BEIJING, Nov 12- China's acquisitive apparel firm Shandong Ruyi is targeting more global deals involving "affordable luxury" brands, under.

indicative positive
BRIEF-Beijing Qianjing Landscape Plans Share Private Placement To Fund Projects, Replenish Capital

Nov 11 (Reuters) - Beijing Qianjing Landscape Co Ltd : * SAYS IT AIMS TO RAISE UP TO 530 MILLION YUAN ($76.20 million) IN SHARE PRIVATE PLACEMENT TO FUND PROJECTS, REPLENISH CAPITAL Source text in Chinese: ...

indicative negative
There's something behind this market sell-off that no one is talking about: The strong dollar

Stocks investors are spooked about a lot of things, and the strong dollar biting into earnings growth is now one of them.

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The Dollar Keeps Getting Stronger. Here’s What That Means for You.

On Monday, the US dollar reached its highest level in a year and a half, as measured against a weighted basket of foreign currencies. You can now buy a Euro for just $1.12, and a British Pound for $1.29. What does that mean for Americans?

conditional positive
Rupee drops 39 paise against US dollar as crude oil rebounds - Times of India

India Business News: Cutting short the 10-day selling trend, crude oil prices rose by around 1% to touch $71 per barrel mark after the world's largest oil exporter Saudi A

indicative negative
Rupee recovers 22 paise to 72.67 against US dollar

Positive macro data which showed retail inflation dropping to a 13-month low in October also bolstered the market sentiment.

indicative negative

6 CNY to USD currency converter