Chinese Yuan

CNH/CNY

  • Konvertálható: Yes
  • Transzferálható: Yes
  • Árfolyamrendszer: Managed Float
Deviza Tudástár

Available Currency Pairs

EURCNY

Nézet EUR

USDCNY

Nézet USD

GBPCNY

Nézet GBP

CHFCNY

Nézet CHF

AEDCNY

Nézet AED

AUDCNY

Nézet AUD

CADCNY

Nézet CAD

CNYCZK

Nézet CZK

CNYHKD

Nézet HKD

CNYHUF

Nézet HUF

CNYJPY

Nézet JPY

CNYMXN

Nézet MXN

CNYTHB

Nézet THB

CNYZAR

Nézet ZAR

DKKCNY

Nézet DKK

ILSCNY

Nézet ILS

NOKCNY

Nézet NOK

NZDCNY

Nézet NZD

PLNCNY

Nézet PLN

RONCNY

Nézet RON

SEKCNY

Nézet SEK

SGDCNY

Nézet SGD

Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: High
FX FORWARD
Maximum maturity: 24 months
Liquidity: High

Did You Know?

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Monetary policy

  • The People’s Bank of China (PBoC) is China’s central bank, responsible for maintaining monetary stability and promoting the country’s economic growth.
  • Price setting method: The Renminbi is the only Chinese currency: there are, however, two separate quotation markets. The CNY (Onshore Yuan) is traded only in mainland China, and Chinese authorities manage the value of the CNY relative to a basket of currencies. The CNH (Yuan Offshore) is only traded outside of China, and its value follows that of the CNY, with relatively small differences to the up- or down-side, as a result of supply and demand in the market.
  • Note: transfers are always made in CNY. The CNH does not exist in the banking network as a separate currency the denomination refers to Yuan once they are traded offshore (the H is CNH refers to Hong Kong).
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Features and highlights

  • The CNH spot market only developed from 2010: it has been experiencing a meteoric rise.
  • In 2016, according to SWIFT, the CNH was the fifth most used currency in international payments. Also, note that London is the second-largest market for CNH (after Hong Kong). However, since then, it didn’t advance much further in usage as many Chinese companies trade in US, EUR or other currencies.

As local players don’t always get attractive FX rates, it can be better for European companies to pay or invoice in CNH and hedge themselves, compared to have the Chinese counterpart handle the FX flows.

  • One could also encounter the notations CNO (onshore CNY) and RMB (renminbi, the Chinese word for “money“).
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Expert opinion

  • The value of the CNH is closely correlated with that of the CNY, although ifferences may appear at certain specific periods (e.g. market tensions, PBoC decisions)
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Regulations

There are no special restrictions on the purchase and sale of CNH.

Important Information

CNH PAYMENTS TO CHINA

The IBAN format is not used in China. Payment instructions must contain:

  • The BIC Code of the beneficiary bank.
  • The full name, address and account number of the beneficiary.
  • The POP (Purpose of Payment) which is divided into four categories: transfer of goods, transfer of services, donations to a charity or other reasons for payment.

Keep In Mind

Public Holidays

New Years Day 1 Jan
Good Friday 30 Már
Easter Monday 2 Ápr
Labour Holiday 30 Ápr
Tuen Ng Day 18 Jún
Mid-autumn Festival 24 Sze
Chung Yeung Day 28 Okt
Lunar New Year 15 Feb
Holy Saturday 31 Már
Ching Ming Festival 5 Ápr
Buddha’s Birthday 22 Máj
Establishment Day 2 Júl
Chinese National Day 1 Okt
Christmas Day 25 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts

Reference guide

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