Chinese Yuan (CNY) Live Exchange Rate & Remittance Guide

About the Chinese Yuan

The Renminbi (people's currency, RMB) — with the yuan as the principal unit — was introduced in 1948. The PBoC managed the yuan through a tight peg to the USD until 2005, then under a managed float against a basket of currencies. The yuan was added to the IMF's SDR basket in 2016.

Why CNY matters for remittance

China receives roughly $51 billion in remittances annually, the third-largest globally. Major sending corridors are the US, Hong Kong (treated as cross-border), Australia, and Singapore. China also has strict outbound FX rules that limit personal capital outflows to USD 50,000 equivalent per year.

Compare CNY corridors

See live rates and the best providers for each pair.

China remittance guide

Country profile for sending money TO China — delivery methods, regulations, recipient guidance.

CNY remittance regulations

PBoC and SAFE (State Administration of Foreign Exchange) regulate inbound remittances. Personal remittances under USD 50,000 per year per individual are uncapped; larger amounts require SAFE approval. Bank deposit is the dominant delivery method; Alipay and WeChat Pay are not supported by most international providers due to PBoC restrictions.

How to send Chinese Yuan (CNY)

1. 1

   Use a UnionPay-supporting provider (Wise, OFX) for direct credit to Chinese bank accounts.

2. 2

   ICBC, Bank of China, China Construction Bank, and Agricultural Bank are the largest networks for receiving remittances.

3. 3

   Be aware of the USD 50,000 annual inbound cap per individual under SAFE rules; larger amounts require additional documentation.

4. 4

   Cash pickup is rare in China; bank deposit is by far the dominant channel.

Currency facts

ISO 4217

156

Sub-unit

10 jiao = 1 yuan

Central bank

People's Bank of China (PBoC)

Daily FX volume

$280 billion/day

Symbol

¥

52-week range (vs USD)

7.1 – 7.3

Frequently asked questions