Today's Yuan Exchange Rate
Today's Chinese Yuan (CNY) exchange rate, March 12, 2024, Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB) compared with the CNY exchange rate at the same time yesterday morning, this morning the CNY price at the bank increased in both directions. The VCB CNY buying price is 3,358.77 VND/CNY and the selling price is 3,502.34 VND/CNY.
The State Bank announced that the cross exchange rate between Vietnamese Dong and Chinese Yuan applied to calculate export and import taxes effective from March 7, 2024 to March 13, 2024 is 1 CNY = 3,336.11 VND.
This morning, March 12, 2024, the CNY exchange rate compared to yesterday (March 11) at Sacombank, the highest CNY transfer buying price is 3,396.90 VND/CNY.
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Compare the Chinese Yuan (CNY) exchange rate between the 7 largest banks in Vietnam. Today, March 12, 2024, the CNY exchange rate for buying has 2 banks increasing the buying price, 0 banks decreasing the buying price and 5 banks keeping the buying price unchanged compared to yesterday.
Meanwhile, in the selling direction, 5 banks increased their selling prices, 0 banks decreased their selling prices and 2 banks kept their selling prices unchanged compared to yesterday.
The highest price for buying Chinese Yuan (CNY) is 3,358.77 VND/CNY at the Foreign Trade Bank. The lowest price for selling Chinese Yuan (CNY) is the Bank for Investment and Development of Vietnam at 3,488.00 VND/CNY.
Today, Vietinbank bought Chinese Yuan by transfer, increasing the price by 10 VND to 3,395.00 VND/CNY, selling at 3,505.00 VND/CNY.
Today, March 12, 2024, the CNY exchange rate at TPBank increased in both buying and selling directions, specifically: Buying increased by 15 VND with the price of 2,885.00 VND/CNY and selling was 3,541.00 VND/CNY, an increase of 10 VND.
Of the 20 foreign currencies currently traded at Vietcombank, only 12 currencies are bought and sold by Vietcombank in cash or by transfer: US dollar (USD), euro (EUR), Chinese yuan (CNY), Australian dollar (AUD), British pound (GBP), Canadian dollar (CAD), Swiss franc (CHF), Singapore dollar (SGD), Korean won (KRW), Japanese yen (JPY), Hong Kong dollar (HKD), Thai baht (THB).
For the remaining 8 currencies, customers can transact by bank transfer: Danish Krone (DKK), Indian Rupee (INR), Kuwaiti Dinar (KWD), Malaysian Ringgit (MYR), Norwegian Krone (NOK), Russian Ruble (RUB), Saudi Arabian Riyal (SAR) and Swedish Krona (SEK).
RMB exchange rate at the market price
Today, March 12, 2024, the CNY price at the market price has changed; buying is 3,479.00 VND/CNY and selling is 3,549.00 VND/CNY, increasing in both buying and selling directions compared to yesterday at the time of recording in the morning.
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| Foreign currency price list at the market at 8:30 a.m. today, March 12, 2024 |
In Hanoi, Ha Trung Street (Hoan Kiem District) is the largest foreign exchange place that can help you exchange many popular currencies on the market today, such as USD (US Dollar), Euro, Yen (Japanese Yen), Won (Korean Won) ... and many other currencies. However, exchanging money at these foreign exchange streets must comply with the regulations of Vietnamese law.
Yuan Forecast
The rebound in consumer prices is good news for Chinese policymakers and investors, who have been worried about deflation in the country. China has been trying for months to stimulate consumption and prices in the economy, as consumers tighten their belts and foreign investors pull out of their investments, a situation that could lead to a dangerous deflationary spiral.
Unlike many other major economies, China faces a prolonged period of deflation, following a brief period of rising prices in the wake of the Covid-19 pandemic. The risk is that falling prices will lead to consumers hoarding more cash and companies curbing spending, putting pressure on economic growth.
The NBS report also showed that core inflation - a measure that strips out volatile food and energy costs - rose 1.2% in February from a year earlier, the highest in more than two years and far exceeding the 0.4% increase in January.
Information about the Chinese Yuan
The Chinese Yuan (symbol: ¥, code: CNY) is the official currency of the People's Republic of China, issued in 1948 and has undergone 5 series of replacement issuances. The international abbreviation for the Chinese Yuan is RMB, in Vietnam the Chinese Yuan is often called in simplified form as Yuan.
Chinese currency in circulation on the market includes 2 types of paper money and coins. The denominations of Chinese currency are 100 yuan, 50 yuan, 20 yuan, 10 yuan, 5 yuan, 2 yuan, 1 yuan (paper money), 1 hao, 2 hao, 5 hao (coins). The counting units of the Chinese currency are Yuan, Jiao, Fen corresponding to Yuan, Hao, Xu with the conversion: 1 yuan = 10 hao, 1 hao = 10 xu.
The renminbi is only circulated in mainland China and is not officially used in Hong Kong and Macau.
Refer to the popular foreign currency exchange - buying and selling Chinese Yuan addresses in Hanoi: 1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 2. Gold and Silver Fine Arts - No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 3. Minh Chien Gold and Silver Store - No. 119 Cau Giay, Cau Giay District, Hanoi 4. Thinh Quang Gold and Silver Company - No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 5. Toan Thuy Store - No. 455 Nguyen Trai, Thanh Xuan, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi 6. Bao Tin Minh Chau Gold, Silver and Gemstones - No. 19 Tran Nhan Tong, Bui Thi Xuan, Hoan Kiem District, Hanoi 7. Chinh Quang Store - No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 8. Kim Linh 3 Store - No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 9. Huy Khoi Store - No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB Refer to the popular foreign currency exchange - Won buying and selling addresses in Ho Chi Minh City: 1. Minh Thu Currency Exchange - No. 22 Nguyen Thai Binh, District 1, Ho Chi Minh City 2. Kim Mai Gold Shop - 84 Cong Quynh, District 1, Ho Chi Minh City 3. Kim Chau Gold Shop - 784 Dien Bien Phu, Ward 10, District 10. Ho Chi Minh City 4. Saigon Jewelry Center - 40-42 Phan Boi Chau, District 1, Ho Chi Minh City 5. Kim Hung foreign currency exchange agency - No. 209 Pham Van Hai, Binh Chanh, Ho Chi Minh City 6. DOJI Jewelry Store - Diamond Plaza Le Duan, 34 Le Duan, Ben Nghe, District 1, Ho Chi Minh City 7. Kim Tam Hai Shop - No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City 8. Bich Thuy Gold Shop - No. 39 Pham Van Hai Market, Ward 3, Tan Binh District, Ho Chi Minh City 9. Ha Tam Gold Shop - No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, Ho Chi Minh City 10. System of transaction offices at banks in Ho Chi Minh City such as: Sacombank, VietinBank, Vietcombank, SHB, Eximbank. |
* Information for reference only!
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