In order to convert yuan into dollars, you need to know the exchange rate of the Chinese currency in relation to the American one. You can calculate it yourself using the cross-course methodology.
Instructions
Step 1
Visit the official website of the Central Bank of Russia, where you can find information on the exchange rates that are set daily. These include both Chinese yuan and US dollars. On the left side of the page you will see the inscription "Main indicators of the financial market", and under it "Currency rates", follow this link.
Step 2
Pay attention to the menu, which is located on the left side of the page that opens. Click on its first item "Official exchange rates for a given date". A calendar will appear under the caption, in which you can set the date that interests you, for example, December 1, 2011. A table will appear on the right side of the page, which lists all foreign currencies for which the Central Bank of the Russian Federation sets the exchange rate on a daily basis.
Step 3
Determine what is the dollar exchange rate for the date you are interested in. For example, on December 1, 2011 it was 31,4001 rubles. Find the Chinese yuan in the list and find out what its rate is. Currencies are listed alphabetically, so it's easy to find them. Please note that the yuan exchange rate is set based on how many rubles you need to pay for 10 units of this currency. So, on December 1, 2011, the value of the rate is 49, 2844 rubles for 10 yuan.
Step 4
Make equations. To do this, use the notation for currencies: CNY - Chinese yuan, USD - American dollar, RUR - Russian ruble. Based on the ruble exchange rates, it turns out:
31,4001 RUR = 1 USD
49, 2844 RUR = 10 CNY
Step 5
Express how much is 1 Russian ruble in dollars and yuan. To do this, divide both sides of each equation by the ruble factor. It turns out:
1 RUR = 0.031847 USD
1 RUR = 0, 202904 CNY
Step 6
Compare both equations. Their left parts are equal to each other, which means that the right parts are also equal. Therefore, 0.031847 USD = 0.0202904 CNY.
Step 7
Express the yuan in dollars by dividing both sides of the equation by the yuan factor.
1 CNY = 0.1570 USD
Thus, on December 1, 2011, 1 Chinese yuan was worth approximately 16 American cents.
