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US Dollar / Chinese Yuan (USD/CNY)

Track the US Dollar (USD) versus Chinese Yuan (CNY). Get live market data and actionable insights for informed trading decisions at FP Markets Thailand.
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US Dollar / Chinese Yuan (USD/CNY) Profile

The USD/CNH pair represents the USD and the offshore Chinese yuan. In China, the Chinese yuan is denoted as CNY but is not convertible with overseas currencies. In USD/CNH pairing the base currency is USD and the quote currency is the CNH.

HKEX launched the USD/CNH futures in September 2012. ÃŽâ„¢t was the world's first deliverable RMB currency futures product to be quoted, margined, and settled in RMB. RMB is abbreviation for Ren Min Bi, and is the official currency of China. The base unit for RMB is Yuan just as Dollar in USD. This is the currency system in China. The USD/CNH currency pair provide greater capital efficiency and flexibility for managing exposure to the expanding offshore RMB market. The USD dates back to 1792, when the US dollar was created by the United States Congress as the official country’s currency. It serves as legal tender in many countries and it is the most widely used currency in the world both in circulation and reserve. The US dollar form the majors as it pairs with all main currencies in the foreign exchange market (forex). The Chinese Yuan Renminbi (CNY) is the official currency of mainland China. The term Chinese Yuan Renminbi refers to the currency used in the People’s Republic of China. There are two separate terms, as a yuan acts as China’s unit of account for its financial economy and system, which represents a single unit of money. On the other hand, the term renminbi is the official name of the currency itself.

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US Dollar / Chinese Yuan (USD/CNY) Trading FAQ

While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the USD/CNH whenever the currency pair is more volatile. From 9.30 am to 11.30 pm Beijing time the USD/CNH is usually busy (GMT).

Many factors can affect the USD/CNH market sentiment and spot rates, such as central banks policies, the price of commodities in each country, exports of both countries, economic growth, and political stability.

The USD/CNH currency pair is one of the most significant and widely traded currency pairs in the world. The United States and China represent the two largest economies, with China being the largest global exporter and the United States the world’s largest consumer.

As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as USD and CNH. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.

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