USD to CNY Exchange Rate Today
USD to CNY conversion for American businesses importing from China, tracking PBOC daily reference rates, and navigating the $50,000 annual conversion limit. Essential for Shenzhen manufacturing, Shanghai operations, and yuan trade settlements.
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Exchange rate: Real-time mid-market rate from OpenExchangeRates API. Transfer fees: Based on typical provider fees.Note: Providers may offer different exchange rates than the mid-market rate shown. Always check the provider's website for their actual exchange rate and final pricing before sending.
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Frequently Asked Questions
How does China's managed float system work for USD/CNY?
PBOC sets a daily central parity rate each morning at 9:15 AM Beijing time, allowing the yuan to trade within a 2% band (approximately ¥6.5-7.3 range per dollar). This 'managed float' differs from free-floating currencies—PBOC intervenes to prevent excessive volatility. The fixing reflects previous day's closing, basket currencies, and counter-cyclical adjustment factor. US businesses sourcing from Shenzhen or Shanghai must adapt to this system's unique constraints.
Why does China control the Yuan's value?
PBOC maintains managed float to support China's export economy—weaker yuan makes Chinese goods cheaper globally. This control helps China's massive manufacturing sector (electronics, textiles, machinery) stay competitive, manages inflation from imports, and prevents destabilizing capital flight. US frequently accuses China of currency manipulation, making USD/CNY central to trade negotiations and tariff discussions.
What's the best way to send Dollars to China?
Use international banks with Chinese operations like Citibank or HSBC, Chinese banks' US branches (Bank of China, ICBC), Wise or OFX for transfers (note China has restrictions), or business payment platforms like Alipay Global or WeChat Pay International. For manufacturing payments, use trade finance services. Be aware of $50,000 annual conversion limit per Chinese recipient and documentation requirements.
What strategies work for timing USD-CNY conversions?
American importers benefit when the dollar strengthens above ¥7.0, reducing costs for Guangdong electronics or Zhejiang textiles. Unlike freely-traded pairs, USD/CNY moves in measured steps due to PBOC management. Companies with recurring China payments use layered hedging—converting portions at ¥6.8, ¥7.0, and ¥7.2 to average costs. Expatriates in Beijing or Shanghai often split large conversions across quarters rather than timing politically-influenced swings. Trade negotiation announcements create temporary spikes worth monitoring.
Are there restrictions on sending USD to China?
Yes, significant ones. Chinese individuals can only convert $50,000 equivalent per year for personal use. Need valid documentation (study, travel, medical). Businesses have separate quotas and extensive paperwork. China distinguishes onshore yuan (CNY, strictly controlled) from offshore yuan (CNH, trades freely in Hong Kong). Use authorized banks—never informal channels. Regulations change frequently, so verify current rules.