Japanese Yen to Chinese Yuan exchange rates aren't all the same.
The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
This resource page for the Japanese Yen to Chinese Yuan exchange rate, has news,
JPY to CNY comparison tables for
foreign transfers and
rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with
our Exchange Rate Checker.
JPY/CNY Exchange Rates - How to Compare & Save
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for JPY/CNY International Money Transfers. Costs are calculated against the current interbank mid-rate.
When determining the best time to make a foreign exchange transaction, in this case the JPY vs CNY, you should pay attention to the recent market trends for both currencies.
Japanese Yen (JPY)
The yen was the star performer in the weeks leading up to this report (May-17), with appreciation driven by a flight to safety following a serious escalation in the US-China trade war. The benchmark yen rate, USD/JPY, was down in the mid-109s, having been as high as 112.4 in late April. Relatively speaking, against their April highs, other yen rates had fallen even more (NZD/JPY was down from 76 to 71.6).
In May, HSBC warned against thinking that yen-supporting safe-haven flows would soon stop, implying that the yen could have more upside potential in the near term. The bank highlighted the “desolation and destruction” (an exaggeration) present in many major economies and currencies. “You can never get too high,” the bank’s chief analyst said.
Increasingly, the yuan is being used as a barometer for progress made on US-China trade talks. For that reason, it fell sharply in the weeks leading up to this report (May-17).
Trade tensions were ramped up in May after President Trump announced higher tariffs on Chinese goods, after China retaliated with tariffs of its own, and then after Trump placed Huawei on the "entity list," thereby making it impossible for the tech giant to do business with US firms.
Between May-6 and May-17, the yuan weakened in the offshore market by 3 percent (a considerable amount for a government-controlled currency) to a 5-month low of 6.95 per USD. Onshore yuan, which is more easily controlled by the PBOC, reached towards 6.92.
All eyes now are on the 7.0 exchange rate. Will the PBOC allow the yuan beyond that? An RBC strategist believes that’s unlikely in the short term because a weaker yuan would create more friction between China and the US. Trump often alleges that China purposefully weakens its currency to gain a trade advantage.
“A rapid conclusion to the US–China trade deal and … complete rollback of tariffs ... would be an effective catalyst to drive RMB higher,” Citibank said.
Why can't I just get the JPY/CNY market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between
the last rate at which the JPY / CNY was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).
Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
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.
General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer.
We may receive referral fees in relation to your activity on the BER website however this doesn't affect the exchange rates or fees you are charged.