Knowledgebase: Fxglory Brokerage
CNY or JPY Exchange Rate
Posted by Paul .W on 14 May 2015 05:54 PM

The Chinese Yuan is the currency of China known as CNY. Also, the Yen is the official currency of Japan known as JPY.

One of our card processors is connected to banks in China and Japan. So, the amount of money will be exchanged by the CNY or JPY exchange rate of your bank when you deposit using this Credit/Debit card method to your Fxglory account.

Here is the example for more clarification:

The base currency of all our accounts is USD and making a deposit by your card needs exchange with the exchange rate of USD/CNY or USD/JPY of your bank.

For example, you want to deposit 100 USD by your card, and the global exchange rate for the Chinese Yuan is 6.33 on the 14th of May 2015. So it means that 100 USD is equal to 633 CNY, but different banks provide different exchange rates, and the exchange rate of your bank may be 6.11 at the same time. It means that 633 CNY is equal to 103.60 USD. Therefore, you will notice in your bank statement that the amount of 103.60 USD is deducted from your card.

The same example is true for the USD/JPY rate according to the current date of your bank.


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05 June 2015 04:01 PM