Exchange rates used for currency conversion updated on 17th May 2012 ( 17/05/2012 )
Below you will find the latest exchange rate for exchanging Chinese Yuan (CNY) to US Dollar (USD) , a table containing most common Chinese Yuan / US Dollar conversions and a CNY/USD chart with the pair's evolution.
The Chinese Yuan (CNY) to US Dollar (USD) rates are updated every minute using our advanced technology for live forex currency conversion.
*Disclaimer: AVERAGE intraday quotes were used for this conversion. The exchange rate the system calculated between Chinese Yuan and US Dollar on 17/05/2012 is 1 CNY = 0.1581 USD
CNY represents the Peoples Republic of China (PRC), Chinese peoples currency known as the renminbi and denominated in yuan. It is controlled by the Monetary Policy Authority within the PRC and has until recently not been allowed to be circulated outside of mainland China. Recent developments and gradual changed in PRC policies toward more open markets and less central planning are slowly distributing the yuan for use worldwide. This is a clear plan setting the stage for the PRC target of the CNY overtaking all currencies worldwide in the future.
About US Dollar (USD)
The privately owned and government sanctioned United States Federal Reserve Bank manages the monetary policy for the United States dollar (USD). The USD is the the worlds most widely held reserve currency and the most traded currency in world currency trading markets. The USD is official currency in 14 countries and the unofficial or de facto currency in 37 others. The US dollar is the second largest currency in circulation having been surpassed by the euro. The USD is a floating fiat currency.