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Illustration of Exchange Rate Difference

Illustration of Exchange Rate Difference

Written by Kelly PangUpdated Dec. 2, 2022

China Highlights currently converts Chinese currency to US Dollars for our quotations, but must charge your credit card in CNY. (The exchange rate given in the illustrations below is just an example figure. See our Terms and Conditions for the current China Highlights exchange rate.) Banks and credit card companies must then buy Chinese currency at their local rate to make the payment. The rate may be more or less than our rate. Banks and credit card companies may also make a service charge for the transaction. For these reasons what appears on your bank statement may be more (or even less) than what you were expecting.

Here is an illustration of a service charge made by a client's bank:

China Highlights quotes CNY702 for travel and this equates to US$100 at exchange rate CNY7.02 = US$1 in our quotation.(Note: China Highlights will apply the latest exchange rate, which may differ from the one shown above.) Banks and credit card companies will usually use a rate or charge a fee on the exchange transaction that enables them to make a profit. An example of this would be that they use the same exchange rate of CNY7.02 = US$1. This will mean that CNY702 equates to US$100, but they will charge $100.3 to your credit card. The difference of $0.3 is the profit in the form of a transaction fee that has been made by the bank or credit card. China Highlights has no way to alter this situation and we get no benefit from the difference appearing on your credit card statement.

Note: The Exchange Rates of CNY against the US Dollar and other currencies are fluctuating frequently due to the changing world financial situation. Please check the exchange rate before you pay.

Here is another illustration in which the client's bank must buy Chinese currency at a more expensive rate than China Highlights quoted:

an detailed illustration of why the exchange rate is different

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