Use this two-way calculator and chart to calculate amounts in either Chinese yuan or 1000 using
the real-time CNY/CAD market mid-rate.
Then choose your transaction type
Foreign TransferTravel Money
to see the available exchange rates and reviews for our leading foreign exchange providers.
There are three important types of information that you need to know if you are to have any chance of getting the
best possible CNY / CAD rate :
Market CNY to CAD mid-rate - the starting point.
Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
Right now the CNY/CAD market rate is
and represents how many
Canadian dollar
you can get for one Chinese yuan.
The CNY/CAD mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the CNY / CAD was traded (bought or sold) in the international markets.
You can calculate with the current mid-rate using our
CNY to CAD
calculator below but note the rate will most likely be quite different by the time you make you currency exchange.
2. Transaction Costs - Margins and Fees for CNY/CAD Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money
and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same CNY/CAD market rate I see on Google or in the Media?
When you look up the current Chinese yuan to Canadian dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great CNY to CAD mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use the below
CNY to CAD calculator to convert currency amounts using the latest mid-market exchange rates.
Then choose your transaction type for specific Chinese yuan cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Chinese yuan and Canadian dollar
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the CNY vs CAD, you should pay attention to both Chinese yuan and Canadian dollar news and forecasts.
Chinese yuan (CNY) - Market news and forecasts
In late March, a USD/CNY rate of 6.242 marked the yuan’s strongest level against the dollar since mid-2015. The yuan also rose to long-term highs against the Australian dollar and Canadian dollar. Against the euro, pound and yen, it traded near 12-month averages.
The yuan’s first-quarter appreciation against the US dollar was attributed to expectations for a stronger yuan amid a looming US-China trade war and also to large inflows of investment capital into China, driven in part by the inclusion of Chinese equities and yuan-denominated bonds in widely followed indices and by the introduction of the world’s first exchange-traded, yuan-denominated oil futures.
Expectations for a stronger yuan followed the introduction of tariffs by Washington on $60 billion worth of Chinese goods – tariffs aimed at reducing the US’ $375 billion trade deficit with China. Despite talking tough, it was believed by most that Beijing would seek to appease Washington in order to avert a full-blown trade war, which might be achieved by allowing the yuan to appreciate – a move that would make Chinese goods less attractive to US buyers, shrinking the deficit.
For year-end, most forecasts (taken in February) for the yuan ranged between 6.1 and 6.25 per US dollar. A notable exception came from ABN Amro, which cited expectations for a modest recovery in the greenback as its reason for predicting 6.5.
Canadian dollar (CAD) - Market news and forecasts
The Canadian dollar was the worst performing G10 currency in the first quarter of 2018.
Against the US dollar, CAD fell to buy 77.5 US cents (USD/CAD 1.29), but this was in line with average rates over the preceding twelve months.
Against the euro, CAD fell to an 8-year low but recovered somewhat before March was out to buy 63 euro cents (EUR/CAD 1.587).
For CAD, little respite is likely in the months ahead according to TD Securities, which described the currency in March as “really expensive.” A senior analyst at the firm explained that CAD was the “most exposed [major currency] from a global macro level and also from the local level of trade risk.”
Trade remains a dominant theme affecting CAD. Washington stepped up its protectionist measures in the first quarter with tariffs on steel and aluminium products (Canada is the number one exporter of such products to the US) and $60 billion worth of Chinese goods. Being a global growth-sensitive currency, CAD will suffer should international trade tensions escalate, not to mention the ramifications for ongoing NAFTA negotiations between Canada, the US and Mexico. The market consensus remains for an 8-10% drop in CAD's valuation should NAFTA negotiations fail.
