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Compare USD to CNY foreign transfers

Use our comparison table to find the best exchange rates for Chinese Yuan foreign transfers versus the Banks.

When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.

 
 

Compare Best Exchange Rates for:

   
$USD
¥CNY

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Foreign Transfer Providers
Ratings & Reviews
Receive CNY(¥)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
64,827 CNY
Best Overall
6.48270^3.31%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
63,480 CNY
1,347 CNY
6.3594185.32%Online, Branch, Bank Transfers2-3 days
HSBC logo
63,434 CNY
1,393 CNY
6.3529$155.38%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
63,047 CNY
1,780 CNY
6.3416155.96%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
62,637 CNY
2,190 CNY
6.327$1006.57%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
62,637 CNY
2,190 CNY
6.327$1006.57%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→CNY
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:6.4827 (3.31% from mid-rate)
CNY amount:64,827 CNY
Total Cost:3.31%
Time:
Rate Fetched: Sat Apr 20 2019 16:03:12 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→CNY
USD amount:$10,000 USD
Fee:18
Exchange Rate:6.3594 (5.15% from mid-rate)
CNY amount:63,480 CNY
Total Cost:5.32%
Difference:
1,347 CNY less than using OFX
Time:18:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→CNY
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:6.3529 (5.24% from mid-rate)
CNY amount:63,434 CNY
Total Cost:5.38%
Difference:
1,393 CNY less than using OFX
Time:18:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→CNY
USD amount:$10,000 USD
Fee:15
Exchange Rate:6.3140 (5.82% from mid-rate)
CNY amount:63,047 CNY
Total Cost:5.96%
Difference:
1,780 CNY less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→CNY
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:6.3270 (5.63% from mid-rate)
CNY amount:62,637 CNY
Total Cost:6.57%
Difference:
2,190 CNY less than using OFX
Time:18:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→CNY
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:6.3270 (5.63% from mid-rate)
CNY amount:62,637 CNY
Total Cost:6.57%
Difference:
2,190 CNY less than using OFX
Time:18:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the USD-CNY mid-market exchange rate over the last week. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market USD-CNY exchange rate.

Currency news and forecasts for United States Dollar and Chinese Yuan

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 must always be quoted in comparison to a second currency.

So it follows that if you are determining the best time to transact, in this case the USD vs CNY, you should pay attention to both United States Dollar and Chinese Yuan news and forecasts.

United States Dollar (USD) - Market news and forecasts

In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.

The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.

Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.

Chinese Yuan (CNY) - Market news and forecasts

In early 2019, the yuan has appreciated away from long-term lows established in the fourth quarter of last year. By March-13, the yuan held year-to-date gains of 2.5 percent and 4 percent against the dollar (¥6.708) and euro (¥7.574) respectively, and these amounts increase to 4 and 7 percent if current rates are compared with fourth-quarter lows.

The main news piece for yuan investors remains the US-China trade spat, for which negotiations are still taking place. The massive tariffs that might be imposed (or remain) on Chinese goods makes them expensive to American buyers, which lessens their appeal and necessitates a weaker yuan, especially so if Beijing instructs the PBOC to intentionally weaken the currency to offset the impacts of tariffs (in March, the PBOC denied it would devalue the yuan to boost exports, or strengthen it to ease trade tensions).

For now, the yuan will continue trading between ¥6.65 to ¥6.90 to the dollar, a Natwest analyst said in March.

Nomura argued that the yuan was already overvalued against the dollar and would weaken "in the medium to long term," although it couldn’t offer any precise exchange rate targets.