How to buy yuan: What is the Chinese yuan and how do you trade it?




The tensions between the US and China have increased the popularity of the pair considerably, as a means of speculating on the competition between the two economies. Due to China’s cross-border currency controls, there are two markets for the yuan. The onshore yuan, which is traded in mainland China, is known under the ticker CNY. The offshore yuan, which is used on international markets, is known by the ticker CNH.

China’s economy has been on a massive growth streak for decades. And it’s positioned to remain one of the most powerful economies in the world for the foreseeable future. Moreover, strong and growing economies tend to maintain strong currencies. China’s strong economy makes the yuan attractive to foreign investors. Binance is constantly reviewing and adding cryptocurrencies that can be used on the Binance platform. If you would like to buy Yuan, which is currently not listed on Binance, you can follow the step-by-step guide below.

CXI owns and operates more than 30 branch locations across the United States and offers online foreign currency ordering through its website. Futures and options are advanced trading strategies not suitable for the typical passive investor. With these instruments, active investors use leverage to increase their potential gains. The easiest way for most investors to get exposure to yuan in their portfolio is through an exchange-traded fund . You buy an ETF through your brokerage account just like buying a stock. But instead of buying a company, you buy yuan or a basket of currencies that includes the yuan.

China’s economic growth in recent years makes the yuan an attractive currency for investors. J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. may, from time to time, offer payment processing services with respect to card deposits through StoneX Financial Ltd, Moor House First Floor, 120 London Wall, London, EC2Y 5ET. It’s free to open a Wise account, with a one time fee of 9 USD for the Wise debit card.

When Australia’s exports increase, its currency strengthens against the Chinese yuan due to the increase in demand. The CNY currency is government-controlled; it has far stricter measures in place in order to ‘empower’ trade between Chinese companies. The CNH is not as closely monitored by China’s central bank; it is freely traded and its price is determined by the will of the market. There are also strict capital controls in place, which limit the free movement of capital out of China. The USD to CNY exchange rate is better online and give you more yuan for your US dollars. You can reserve your order, pick it up in a store or even have it delivered to your door.

Eric Rosenberg is a finance, travel and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full time. He has in-depth experience writing about banking, credit cards, investing and other financial topics and is an avid travel hacker. When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers and spending time with his wife and little girls.

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For investors in the U.S. or anywhere outside of China, the Chinese yuan (sometimes called “the renminbi”) is available as a foreign exchange investment. In foreign exchange — often called “forex” or “FX” — investors buy a foreign currency with the goal of the currency becoming more valuable compared to their home currency. Just as a share of stock can go up in value, so can the relative value of a currency.


Converting USD to CNY costs 1.06% with Wise – making this by far one of the cheapest ways to get your hands on travel money for China. You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article.

Stay Knowledgeable About Yuan

The renminbi and yuan are often used interchangeably as the currencies for China, but the renminbi is considered the official currency of China. The yuan is used to facilitate global and financial transactions and is typically used offshore–outside China–while the renminbi is more frequently used in China–onshore. When you buy Chinese yuan from the bank you can pay with credit card, cash or from your bank account. Currency exchange services offered by the bank might not offer the best CNY to USD rates but they are convenient, particularly if you are an existing customer. You can buy Chinese yuan with dollars at major banks like Wells Fargoand Bank of America. You will need to be a bank customer already and can order it online easily.

All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. Historically, the yuan hadn’t been recognized as an international currency due to the Chinese government’s strict market control. The Chinese government takes a very active role in making sure the exchange rate is favorable, keeping the yuan low against other global currencies, to ensure the country’s exports remain competitive. Members should be aware that investment markets have inherent risks, and past performance does not assure future results.

Trading the yuan on forex markets: CNY vs CNH

While the CNH currency is used by international investors who want to invest in or speculate on the yuan. The savviest investors know their investment choices can go far beyond the typical mix of stocks, bonds and funds the typical investor uses when building a portfolio. The Chinese yuan recently gained attention as a potential foreign exchange investment opportunity, but it’s not perfect for everyone. Yuan/renminbi currency futures are traded on the Chicago Mercantile Exchange under the symbol RMB. Futures are derivatives since they derive their value from the underlying investment. Futures contracts can be used to speculate on currencies and commodities.

We do our very best to give you the most accurate journalistic information, but we can’t guarantee to be perfect. You use the information at your own risk, for more details read how our site works . Currency Exchange International specializes in providing foreign currency exchange at great rates with superior customer service.

Investopedia does not include all offers available in the marketplace. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. As the Chinese economy continues to expand, the yuan is gaining greater acceptance worldwide.

If you do hold physical yuan, use a fireproof safe or bank safe deposit box to keep your money safe and secure. There are multiple ways to invest in the Chinese yuan, including directly purchasing the currency, buying currency ETFs or mutual funds, and investing in emerging Chinese stocks. CNH/JPY – CChina and Japan have a close economic relationship. The Japanese yen is another currency that is kept artificially low against other global currencies, but it is considered a safe-haven currency, so its value rises during economic crises. USD/CNH – this pair has always been the most popular way of trading the yuan, as it’s the most to Chinese political and economic announcements.

The official symbol is “Ұ” – it’s different to the Japanese yen symbol which has two lines across the Y. The problem is, it can be a hard to find them outside of the city and they regularly run out of less common currencies. There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange. For example, if you use TrustWallet wallet, you can go to 1inch to make the transaction.