As was the case for a number of currency pairs, 2008 was a pivotal year for the Australian Dollar to Chinese Yuan (AUD/CNY) exchange rate.
When the global economy crashed that year, investors fled from higher risk currencies like the Australian Dollar and the AUD/CNY exchange rate accordingly plummeted to a low of 4.1454 from a previous high of around 6.6353.
The Australian Dollar to Chinese Yuan exchange rate advanced to a high of 7.1206 in 2011 before entering a fairly steady slide and levelling out in 2015/2016.
The currency pair is subject to movement as a result of economic news from China, the US and Australia as well as general global risk sentiment. The Shanghai Composite Index (an index of all stocks traded at the Shanghai Stock Exchange) also has an impact on demand for the Yuan, with falling stock prices having a tendency to devalue the Yuan.
The Chinese Yuan is also known as the Renminbi (RMB). Historically, China-imposed foreign exchange restrictions have made the Yuan trickier to trade than other currencies but China has begun to relax limitations.