![]() You will find that many money transfer providers offer stronger exchange. The yuan's use in global trade finance remains low, though it has shown steady increases.ĭata from SWIFT showed that the yuan's share of global currency transactions for trade finance rose to 4.5% in March, while the dollar accounted for 83.71%. Each currency’s exchange rate varies widely and is updated daily based on several political and economic factors. Consider using recurring payments, forward contracts and limit orders to get a stronger exchange rate. ![]() The volume of cross-border transactions covers both the current and capital accounts.Ĭhina has long been promoting the use of yuan to settle cross-border trades as part of an efforts to internationalise the use of its currency. The yuan was used in 48.4% of all cross-border transactions, Reuters calculated, while the dollar's share declined to 46.7% from 48.6% a month earlier. chinese yuan 7.84 Compare Chinese Yuans czech koruna 27.85 Compare Czech Korunas hong kong dollar 8.91 Compare Hong Kong Dollars turkish lira 20.33 Compare Turkish Liras argentine peso 145.64 Compare Argentine Pesos View All Currencies Best Sell Exchange Rates euro 1.16 Compare Euros us dollar 1. You may be able to withdraw cash in the local currency with competitive exchange rates and low fees (1 to 3). ![]() SHANGHAI, April 26 (Reuters) - The yuan became the most widely-used currency for cross-border transactions in China in March, overtaking the dollar for the first time, official data showed, reflecting efforts by Beijing to internationalise use of the yuan.Ĭross-border payments and receipts in yuan rose to a record $549.9 billion in March from $434.5 billion a month earlier, according to Reuters calculation based on data from the State Administration of Foreign Exchange. Frequently asked questions about Bank of the West currency exchange Foreign Currency For Travel If you are a retail customer who wants to hold foreign cash for your travels, then we highly recommend you avoid using Bank of the West currency exchange services. Your banks ATM network is likely the best option. ![]()
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