Background Information

The daily movement of the Australian Dollar (AUD) in terms of the Chinese Renminbi (CNY) is shown below in Figure 1 for the period 18 Jan 2017 to 18 Jan 2022. Here the term AUD/CNY can be interpreted to mean 1 Australian Dollar is buying x number of Chinese Renminbi's. Therefore, as at 18 Jan 2022, using the diagram below, 1 Australian Dollar was buying 4.56488 Chinese Renminbi.

Figure 1: AUD/CNY