OANDA is electronically connected to numerous global banks to access the best currency rates for its forex traders, and electronic algorithms on OANDA’s fxTrade servers update exchange rates tick-by-tick, in periods of less than a second. The currency rates shown on this page are updated less frequently, but are still a close reflection of the rates available to forex traders right now.
“Yuan” means "round coin,” and is the base currency unit. “Renminbi” is the name of the currency. A similar phrase to “yuan renminbi” would be “pound sterling.”
China is the world’s number 1 exporting country. Its large trade surplus with other nations peaked in 2008.
China has recently allowed greater flexibility and more convertibility for the yuan to appreciate against the U.S. dollar.
