You may be using an unsupported or replaced browser. For the most productive experience imaginable, use the latest edition of Chrome, Firefox, Safari or Microsoft Edge to view this website.
Sending cash has never been easier. You can send a variety of foreign currencies to multiple countries reliably, temporarily, and securely, and at a cheaper rate than maximum banks. Read more today.
If you are making plans to travel to the United States, you may need to exchange some of your cash into U. S. dollars, the country’s official currency. The foreign currency symbol is USD.
The USD is also the official currency of several other countries, in addition to Ecuador and El Salvador. Wherever you go, travelers deserve to be aware that they will want to fill out a customs declaration form if you leave China with more than US$5,000.
This article covers everything you want to know about converting CNY or RMB to USD, and adds where to get the most productive exchange rates and how to pay the highest fees on your conversion.
The calculation of the conversion of yuan to dollars is simple. You can perform the conversion using calculator or by hand.
Using a currency conversion calculator is the simplest way to get an estimate when converting currencies. Since exchange rates vary daily, using a calculator can ensure that your calculations are correct.
Keep in mind that currency exchange comes with additional payouts that a conversion calculator may not be able to predict. For example, banks and ATM networks would likely rate a conversion payment of 1% or more on all foreign transactions. Individual merchants would possibly also qualify additional payments if you ask them to convert the value of an item to their local currency at checkout.
The other option is to perform the calculation manually with an undeniable mathematical formula. However, to do this, you want to know the existing exchange rate. At the time of writing, CNY¥1 has a value of ¥0. 14.
Once you know this information, multiply the amount you have in yuan by the existing exchange rate. The resulting number will tell you how much USD you want to spend on your trip.
Let’s say you have $1,500 CNY and would like to know how many dollars you have for a trip to China. Using the existing exchange rate, your conversion formula would look like this:
1500 yen x 0. 14 = 210 yen
When you’re in a position to buy USD, it’s a smart concept to plan ahead to ensure you’re paying the minimum fees. Here are 3 tactics to get the currency you want and minimize the fees you’ll be charged:
Next step: