Join Date: Feb 2013
Location: Irvine CA & PEK
Programs: Hyatt Globalist, Marriott Titanium, Hilton Diamond, IHG Spire Ambassador, Qantas Platinum, United S
Posts: 664
Just would like to share my data points in China.
I happened to have three pretty large transactions in Beijing over a less-than-24-hour-span. Here are the numbers:
1) Ritz Carlton from Chase (Visa): CNY 20636 to USD 3193.69, 6.46149
2) SPG Business from Amex (Amex): CNY 619.90 to USD 95.97, 6.45931
3) IHG from Chase (MC): CNY 17119.13 to USD 2644.98, 6.47231
The first happens at 2pm, second at 8pm, third at 10am the next day.
If we leave how different networks calculate rates aside, and just compare how transactions in a short timespan are converted into USD, we can see at least in China, Visa doesn't have the big disadvantage it has in other countries. Maybe because CNY is a controlled currency?
The MC transaction might be a little irrelevant, as CNY is going down every second these days...