US Dollar to Chinese Yuan Conversion
Get the latest USD to CNY/RMB exchange rate
1 USD = 7.24 CNY
Current Exchange Rate (Live)
724.00 CNY
100.00 USD equals
Exchange Rate: 1 USD = 7.24 CNY
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Real-time rates for US-China business transactions
About USD to CNY Conversion
The USD to CNY exchange rate represents the value of the US Dollar against the Chinese Yuan (also called Renminbi or RMB). This is one of the world's most economically significant currency pairs due to the massive trade relationship between the United States and China, the world's two largest economies.
Our USD to CNY converter uses live market exchange rates updated hourly, reflecting the managed float system controlled by China's People's Bank of China (PBOC). Whether you're conducting business with China, planning travel, monitoring international trade flows, or tracking currency markets, this tool provides reliable USD/CNY rates.
Understanding China's Currency: CNY vs RMB vs CNH
China's currency system can be confusing. Here's the breakdown:
- RMB (Renminbi): The official name meaning "People's Currency" - like saying "Sterling" for British money
- Yuan (¥): The basic unit of RMB - like saying "Pound" for British money. 1 RMB = 1 Yuan
- CNY: The ISO currency code (Chinese Yuan) used in forex markets and international transactions - represents onshore yuan traded within China
- CNH: Offshore yuan traded in international markets (mainly Hong Kong) with slightly different rates due to fewer capital controls
Bottom line: CNY and RMB refer to the same currency. This converter shows CNY rates.
Current USD to CNY Market Dynamics
Unlike freely floating currencies, the yuan operates under a managed float system:
- PBOC Daily Fixing: People's Bank of China sets a daily reference rate (central parity rate) each morning at 9:15 AM Beijing time
- Trading Band: CNY is allowed to fluctuate ±2% from the daily fixing rate during trading hours
- Capital Controls: China maintains strict controls on cross-border capital flows, limiting how freely yuan moves in/out of the country
- Strategic Management: PBOC intervenes to prevent excessive volatility and maintain export competitiveness
- Gradual Liberalization: China is slowly allowing more market determination while maintaining ultimate control
Factors Affecting USD to CNY Exchange Rate
Key drivers of the USD/CNY rate include:
- PBOC Policy Decisions: The central bank's daily fixing rate and intervention activities
- US-China Trade Relations: Trade tensions, tariffs, and bilateral agreements significantly impact the rate
- US Federal Reserve Policy: US interest rate decisions and dollar strength
- China's Economic Data: GDP growth, trade balance, manufacturing PMI, and inflation
- US Economic Indicators: Employment, inflation, and growth data affecting dollar strength
- Trade Balance: US trade deficit with China creates demand dynamics
- Capital Flows: Foreign investment into/out of China affects currency demand
- Geopolitical Tensions: US-China relations and global trade policies
Historical USD/CNY Exchange Rate
The yuan's exchange rate history reflects China's economic evolution:
- 1994-2005: Fixed at 8.28 CNY per USD (peg to dollar)
- 2005: China began gradual appreciation, abandoning strict peg
- 2008 Financial Crisis: Re-pegged around 6.83 CNY during crisis
- 2010: Resumed gradual appreciation
- 2014-2015: Yuan strengthened to 6.20 CNY per USD (strongest level)
- 2015-2016 Devaluation: Surprise PBOC devaluation to boost exports, weakened to 6.95 CNY
- 2018-2020 Trade War: Yuan weakened past 7.00 CNY per USD for first time since 2008
- 2020-2021 Strengthening: Recovered to 6.35 CNY amid China's COVID recovery
- 2022-2023 Weakness: Weakened to 7.30+ CNY due to China's zero-COVID policy and US rate hikes
- 2026: Currently trading around 7.20-7.30 CNY per USD
Doing Business with China: USD to CNY Considerations
For businesses and individuals transacting with China:
- Currency Risk: PBOC can adjust rates significantly, affecting contract values - consider hedging for large transactions
- Capital Controls: Moving large amounts in/out of China requires government approval - plan transfers carefully
- Payment Methods: WeChat Pay and Alipay dominate in China; international credit cards have limited acceptance
- Bank Transfers: SWIFT transfers work but can take 3-5 days; check your bank's China transfer fees
- Business Accounts: Foreign companies need proper licensing to hold CNY accounts in China
- Exchange Rate Timing: Consider the PBOC daily fixing when planning large currency exchanges
Common USD to CNY Conversion Amounts
Popular conversion amounts for business and travel:
- 100 USD to CNY: Approximately ¥724 (daily expenses in China)
- 500 USD to CNY: Approximately ¥3,620 (one-week business trip)
- 1000 USD to CNY: Approximately ¥7,240 (common travel/business amount)
- 5000 USD to CNY: Approximately ¥36,200 (larger business transactions)
- 10000 USD to CNY: Approximately ¥72,400 (significant trade payments, investments)
USD to CNY Converter - Frequently Asked Questions
What is the current USD to CNY exchange rate today?
The current USD to CNY exchange rate is set daily by the People's Bank of China (PBOC) and allowed to float within a ±2% band. Use our converter above for the latest rate, updated hourly. As of today, 1 USD typically equals approximately 7.20-7.30 CNY. The rate reflects both market forces and PBOC intervention.
How much is 1000 USD in Chinese Yuan (RMB)?
At the current exchange rate of approximately 7.24 CNY per USD, 1000 US Dollars equals about 7,240 Chinese Yuan (¥7,240 or 7,240 RMB). The exact amount varies based on the PBOC's daily fixing rate. Use the converter above for today's precise calculation.
Is CNY the same as RMB?
Yes, CNY and RMB refer to the same currency - Chinese money. RMB (Renminbi) means "people's currency" and is the official name. CNY (Chinese Yuan) is the ISO code used in forex markets. The unit is Yuan (¥). Think of it like "Sterling" (RMB) vs "Pound" (Yuan) for British currency. They're interchangeable terms.
Why is China's currency controlled and not freely traded?
China maintains a managed exchange rate to: (1) control inflation and maintain economic stability, (2) support export competitiveness for Chinese manufacturers, (3) manage capital flight and prevent financial crises, (4) maintain monetary policy independence, and (5) protect the economy during global volatility. China is gradually liberalizing but maintains ultimate control through the PBOC.
What is the difference between CNY and CNH?
CNY is "onshore yuan" traded within mainland China under strict PBOC controls and capital restrictions. CNH is "offshore yuan" traded internationally (mainly in Hong Kong) with fewer restrictions and more market freedom. CNH rates can differ slightly from CNY (usually within 1-2%) due to different supply-demand dynamics. Most businesses use CNY for mainland transactions.
Will the yuan get stronger or weaker against the dollar?
Yuan direction depends on: US-China relations, US Federal Reserve vs PBOC policies, China's economic growth, trade balance dynamics, and capital flows. Analysts debate whether PBOC will allow appreciation (supporting consumption) or depreciation (supporting exports). The government's control means movements are more predictable than free-floating currencies, but surprises still occur.
How do I send money from USA to China?
Options include: (1) International wire transfers through banks (3-5 days, $30-50 fees, check exchange rate markups), (2) Online services like Wise, OFX, or Remitly (faster, lower fees), (3) Western Union or MoneyGram (fast but higher fees), (4) PayPal (convenient but expensive rates). Note: China has strict capital controls; large transfers may require documentation proving transaction purpose.
Can I use US dollars in China?
No, USD is not accepted for regular transactions in China. You must use Chinese Yuan (CNY). However, some luxury hotels and high-end stores in tourist areas might accept USD. For practical purposes, exchange USD to CNY before or upon arrival. ATM withdrawals work with international cards, and mobile payment apps (WeChat Pay, Alipay) dominate in cities but typically require Chinese bank accounts.
Need Other Currency Conversions?
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