Here are some examples on my CSP:
02/26 XINGBAKEKAFEIYOUXIANGO BEIJING 9.59
02/27 YUAN RENMINBI
60.00 X 0.159833333 (EXCHG RATE)
On Visaeurope:
* The rate shown applies to transactions processed by Visa Europe on 26 February 2015 with a currency conversion fee of 0.00%.
60.00 CHINA YUAN RENMINBI = 9.5889600000 UNITED STATES DOLLAR
* * * * *
1 CHINA YUAN RENMINBI = 0.1598160000 UNITED STATES DOLLAR
* The rate shown applies to transactions processed by Visa Europe on 27 February 2015 with a currency conversion fee of 0.00%.
60.00 CHINA YUAN RENMINBI = 9.5874000000 UNITED STATES DOLLAR
* * * * *
1 CHINA YUAN RENMINBI = 0.1597900000 UNITED STATES DOLLAR
On Visa.com:
* The rate shown is effective for transactions submitted to Visa on February 26, 2015, with a bank foreign transaction fee of 0%.
1 China Yuan Renminbi = 0.159816 United States Dollar
* The rate shown is effective for transactions submitted to Visa on February 27, 2015, with a bank foreign transaction fee of 0%.
1 China Yuan Renminbi = 0.159790 United States Dollar
Here we don't see the 1%, right? It's not exact, but definitely not 1% more.
Here is another one:
02/22 JINYUXILAIDENGJIUDIAN BEIJING 51.85
02/24 YUAN RENMINBI
324.20 X 0.159932140 (EXCHG RATE)
On Visaeurope:
* The rate shown applies to transactions processed by Visa Europe on 22 February 2015 with a currency conversion fee of 0.00%.
324.20 CHINA YUAN RENMINBI = 51.8496302000 UNITED STATES DOLLAR
* * * * *
1 CHINA YUAN RENMINBI = 0.1599310000 UNITED STATES DOLLAR
* The rate shown applies to transactions processed by Visa Europe on 24 February 2015 with a currency conversion fee of 0.00%.
324.20 CHINA YUAN RENMINBI = 51.8496302000 UNITED STATES DOLLAR
* * * * *
1 CHINA YUAN RENMINBI = 0.1599310000 UNITED STATES DOLLAR
On Visa.com:
* The rate shown is effective for transactions submitted to Visa on February 22, 2015, with a bank foreign transaction fee of 0%.
1 China Yuan Renminbi = 0.159931 United States Dollar
* The rate shown is effective for transactions submitted to Visa on February 24, 2015, with a bank foreign transaction fee of 0%.
1 China Yuan Renminbi = 0.159931 United States Dollar
Again, it's still not 1%, just the round up to the cent, right?
Certainly, if the base amount is considerably larger, say 100k CNY, we would see differences in the neighborhood of $s. But I really don't see the 1% people are talking about here.
Also, my information is just for CNY to USD on Visa.