USDCNH is a widely traded minor currency pair based on two major global economies – the United States and China. The USDCNH pair consists of the United States dollar (USD) as the base currency and the Chinese offshore yuan (CNH) as the quote currency. Traders looking into exposure to the US and China markets can trade USDCNH for sky-high yields.

What is USDCNH?

The USDCNH shows the exchange rate between the US dollar (USD) and the Chinese Offshore Yuan (CNH). In other words, the pair discusses the number of CNHs required to purchase a USD. For example, an exchange rate 6.789 means a trader must have 6.789 CNHs to get a USD. The CNH is traded outside mainland China, such as in Hong Kong, London, Singapore, and South Korea, for internationalizing Chinese currency. Unlike the mainland Chinese currency, CNH is free-floating and under no one's control. The USD is the top-ranking and the most widely traded currency and the focus of interest for all traders. Traders who want to understand how to invest in USDCNH must remember these aspects.

Numerous factors impact the USDCNH price. That includes economic data, monetary policies of the United States and China, trade relations, and capital flow. Investors must keep tabs on these aspects and focus on daily research about USDCNH.

How does USDCNH work?

The USDCNH is an exotic pair that works in the SimpleFX platform. Before starting to invest real money, investors willing to take the first steps to learn how to trade USDCNH can use a demo account. It gives access to the simulation of an actual market without any financial risks.

USDCNH price history

One of the most vital parts of research about a currency pair is knowing its past performance. Therefore, SimpleFX has summarized the currency pair's performance below:

2019

The year started with an exchange rate of 6.86617 CHF and ended at 6.9839 CHF. The highest value of the year was 7.19381 CHF on 3rd September 2019, and the lowest was 6.67944 on 18th April 2019.

2020

On 1st January 2020, the USDCNH was at 6.96036 CNH; on 31st December 2020, it dropped to 6.53073 CNH, the year's lowest value. However, the highest exchange rate of the year was 7.17101 CHF on 29th May 2020.

2021

At the commencement of the year, the value of USDCNH was at 6.5027 CNH; by the end, it declined to 6.37725 CNH. The year's maximum exchange rate was 6.57505 CNH, and the minimum value of 6.36484 was observed on 8th December 2021.

2022

The year began at the exchange rate of 6.35477 CNH and ended at 6.97 CNH. The year's best value was 7.33453 CNH on 1st November 2022, and the worst was 6.31195 CNH on 26th February 2022.

Current USDCNH price

The current USDCNH price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is USDCNH a good investment?

Whether USDCNH is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors worldwide.

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