Chinese Yuan / Turkish Lira

CNY/TRY gives the Turkish lira value of the yuan, the unit of account of China's currency, the renminbi. The code CNY refers to the yuan traded in mainland China; the yuan in the Hong Kong-based offshore market is tracked separately under the code CNH. The currency is managed by the People's Bank of China.

The People's Bank of China announces a central parity rate against the dollar every business day, and the onshore yuan trades within a band set around this rate. Because of this managed exchange rate system, the yuan moves more narrowly than freely floating currencies; consequently, a significant part of the changes in CNY/TRY stems from the Turkish lira's path against the dollar.

China is among the trading partners that account for a large share of Turkey's imports; electronics, machinery and intermediate goods are prominent items in this trade. There is also a bilateral currency swap agreement between the CBRT and the People's Bank of China. The CNY/TRY value on Lzzo.com is a cross calculation based on market exchange rates, not a bank buy/sell price; it does not reflect intraday interbank moves as they happen.