CNH stands for the offshore RMB (Chinese Yuan) traded outside the mainland China, mostly in HongKong. CNY is the Yuan traded within mainland China.
Thus CNY and CNH both refer to the Chinese currency, Yuan(RMB). One major difference between CNY and CNH is that the exchange rate of offshore Yuan CNH is floating and impacted majorly by the private demand of the Yuan. Instead, CNY’s exchange rate against foreign currencies will be more subject to the national currency policy. Generally speaking, the value of offshore money CNH is little more than that of the CNY due to the excess market demand as well as the strong Yuan status.
CNH is offshore RMB (Chinese Yuan) and CNY is the Yuan traded within mainland China
Direct exchange between Chinese Yuan and Australian Dollar beginning on April 10
According to the Sohu News, yesterday Australian Prime Minister Gillard said that the People’s Bank of China had approved ANZ and Westpac to deal with the AUD and CNY direct exchange transactions, which will start on the coming April 10. The analysts believe that China is currently Australia’s largest trading partner, bilateral currency direct exchange can help save transaction costs and reduce the risks of fluctuations in the dollar, and this will positively enhance the bilateral trade. With the acceleration of the process of internationalization of the RMB, RMB’s direct exchange with more currencies is anticipated.
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