China is the second largest remittance recipient of the world with $63.90 billion transferred in 2015 by Chinese working overseas to their home land. With soaring remittance amount and a steady growth over the years, remittance market of China is quite developed. All major remittance service providers offer their services to transfer money to China.
With lots of available options to send money to China, one can utilize Exchange Rate IQ to explore the options and compare them in terms of exchange rate, remittance fee and transfer time. The unified platform of exchange rate IQ brings in much needed transparency in the remittance world. One can easily find the best money transfer option for their needs and save money, time and energy.
When you can get an estimated value in Chinese Yuan (CNY) for the amount being transferred, they can make a better informed decision in choosing a remittance service provider among the lot. Exchange Rate IQ aims to provide a cost-effective
Current Exchange Rate(Mid Market) :- 6.2953 CNY/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.