Understanding the Difference Between CNY and CNH
First, it’s important to understand the distinction between CNY and CNH:
- CNY (Yuan/元): The official currency used only in mainland China
- CNH (Offshore Yuan): Yuan traded outside mainland China, primarily in Hong Kong
Checking CNY and CNH Simultaneously Using Daily Exchange Rate Calculator
App Installation and Initial Setup
- Install ‘Daily Exchange Rate Calculator’ from App Store or Google Play
- Launch app and select base currency (e.g., KRW)
How to Check CNY and CNH Rates
- Click button next to Daily Currency Exchange Rates
- Select both CNY and CNH
- Choose desired date to check rates
Example Exchange Rates
As of October 10, 2024:
- 10,000 KRW = 52.457 CNY (Mainland Yuan)
- 10,000 KRW = 52.501 CNH (Offshore Yuan)
Why CNY and CNH Rates Differ
Different Trading Environments
- CNY: Strictly regulated by Chinese government
- CNH: Fluctuates more freely according to market principles
Different Usage
- CNY: Primarily used for real economy transactions within China
- CNH: Mainly used for international financial transactions