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CNY/USD Exchange Rate

CNY 1.00 = USD Reference Mid-Rate       /
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Daily Currency Market Commentary
Daily currency news provided by OzForex

Macro indicators released from the United States overnight fell short of expectation after an ISM Manufacturing PMI read of 56.6 fell short of the forecast number of 58.6. With the US Federal Reserve still on track to end their bond buying program this month, treasuries continued their upward trajectory whilst equities fell, having lost a staggering $200 billion in worth over the past three months.  In currency moves the Greenback pulled back when valued against the Yen lower this morning at 108.867 whilst the Euro lost 0.2 percent up against the world’s reserve currency after figures showed euro-area factories reduced prices by the most in more than year. Providing further headwinds for the 18-nation Euro an indicator of German Manufacturing also shrank, underpinning the mounting challenge the ECB faces in its efforts to spur growth. In what’s set to steal the limelight this evening ECB President Mario Draghi is expected to provide additional detail surrounding its bond program announced last month.  
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Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

BestExchangeRates in the Money

“A check with the foreign-exchange comparison website shows a big variation in the exchange rates available when sending money and buying cash.” ⇒ read article

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