China Exchange Rates

China exchange rates of the official currency, the Renminbi (RMB), have been pegged to the U.S. dollar since 1994. The value of other currencies to the RMB fluctuate in relationship to the U.S. dollar.

That currency peg has been a controversial issue in international economics. There has even been unofficial U.S. talks to challenge China's currency policy and seek sanctions on China at the WTO.

Currently, China seems dedicated to push forward reforms of the RMB exchange rate, while maintaining overall stability in the economy.

Hong Kong, as part of China, still uses its own currency, the Hong Kong dollar.

The status of the Hong Kong dollar as the legal tender in the Hong Kong Special Administrative Region is guaranteed by the Article 111 of the Basic Law and ensures that the issuance of Hong Kong dollars is fully backed by a reserve fund.

Since 1984, the value of the Hong Kong dollar has been pegged at HK$7.80 per US dollar.

China Exchange Rates – Resources

One of the best sources for latest rates and currency information in Chinese is the Bank of China site, located at

• www.bank-of-china.com

Also, the Chinese language service of Yahoo! Hong Kong has a currency conversion tool, located at hk.finance.yahoo.com/m3?u.

For English language services, you might want to take a look at the following resource:

• x-rates.com