Chinese yuan to Indian rupee
China is one of India’s largest sources of imports. Convert yuan to rupees to check supplier quotes and landed costs.
Yuan or renminbi?
Renminbi, “the people’s currency”, is the name of the currency; the yuan is its unit. CNY is the code for the yuan traded inside mainland China. The People’s Bank of China sets a daily reference rate and allows trading within a band around it, so the yuan is managed more tightly than the rupee.
For importers
Many Chinese suppliers still invoice Indian buyers in US dollars. If you are quoted in yuan, convert at today’s rate here, then add your bank’s margin, freight, customs duty and GST to estimate the landed cost.
Questions
What is CNH?
CNH is the same currency traded offshore, mainly in Hong Kong. Its rate is close to CNY but can differ slightly.
Is this the rate I will get?
It is the mid-market rate. Trade payments through banks carry a margin and charges.