US Dollar / Chinese Yuan (Offshore)

The USD/CNH pair shows the exchange rate between the US dollar and the form of China's currency, the renminbi, that trades outside the mainland, in other words in the offshore market. The code CNH is used for the offshore yuan traded mainly in Hong Kong. The renminbi is managed by the People's Bank of China; the offshore yuan market developed in Hong Kong from 2010 onward.

China's yuan has two prices. Onshore CNY trades within a band set around the central parity rate that the People's Bank of China announces every business day. CNH, by contrast, forms in the offshore market, where capital controls are more flexible, so it responds more directly to supply and demand. The two rates usually move close to each other; the gap between them is watched as an indicator of international investors' expectations regarding China.

China's growth and foreign trade data, trade relations with the US, the interest rate gap and policy guidance from the People's Bank of China affect the pair. Lzzo.com uses a cross reference rate calculated from market exchange rates for this pair; the value shown is not a bank buy/sell price or a current interbank quote.