The best USD to CNY exchange rate is 7.0797. We compare OFX conversion costs to this mid-market rate and other FX providers, find better deals.
In this OFX Dollar to yuan (USD/CNY) rate guide:
USD to CNY 
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Chinese yuan (CNY) rates from different sources before making a conversion.
The below OFX Rate Comparison Table makes it easy to compare the Total Cost you are being charged on OFX Dollar to yuan currency rates and the possible savings of using various providers.
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OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.
OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.
OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.
When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.
*Minimum transfer amount apply. Please note that the receiving bank or intermediary bank may charge fees on transactions.
US dollar (USD) to Chinese yuan (CNY) market data - latest interbank mid-rate, trend, chart & historic rates.
| Date | USD/CNY | Change | Period |
|---|---|---|---|
20 Nov 2023 | 7.1686 | 1.1% ▼ | 2 Week |
05 Sep 2023 | 7.3044 | 3% ▼ | 3 Month |
04 Dec 2022 | 7.0189 | 1% ▲ | 1 Year |
05 Dec 2018 | 6.8568 | 3.4% ▲ | 5 Year |
06 Dec 2013 | 6.0913 | 16.4% ▲ | 10 Year |
09 Dec 2003 | 8.2759 | 14.4% ▼ | 20 Year |
FX analysts have projected various outcomes for the USD/CNY exchange rate based on the interplay of economic forces and policy shifts in both the United States and China. Supported by a robust U.S. economy and high Treasury yields, the strength of the U.S. dollar is anticipated to pose a considerable challenge for most major currencies, including the Chinese Yuan, by the end of the current year. According to a Reuters poll of forex strategists, while the dollar's resilience seems slated to continue amidst concerns over global growth and China-based risk appetite challenges, a modest weakening against major currencies is expected next year. This outlook is particularly tied to the anticipation that the Federal Reserve will approach its first interest rate cut, which economists believe may reverse the dollar's strength that was witnessed over the past year into 2024. Market view also reflects this sentiment, spotlighting a scenario where the dollar's current potency may indeed persist into 2024 but will likely be followed by a gradual easing as U.S. monetary policy adjustments take hold.
Read our full USD to CNY forecasts analysis
There are several ways to save on exchange rates when converting US dollar to Chinese yuan:
Generally speaking, if you are buying Chinese yuan with US dollar, then it's better for the USD/CNY exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
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.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/CNY to your personalised BER Smart Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.
Read our Currency guide to China - a practical currency and money guide to travel, living and doing business in China with the Chinese yuan.
| United States (USD) | China (CNY) |
The expat life in China can vary greatly depending on a number of factors, including one's location, job, and personal circumstances.
Read more at our China (CNY) country guide
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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