USD/CNY fix: 6.6332 vs. 6.6535 previous close, lowest since Nov 5 2020

In today’s recent trade, the People’s Bank of China (PBOC) fixed the Yuan (CNY) currency at 6.6332. This compares to the last close of the Yuan currency at 6.6535, the lowest level fix

May 06, 2022 - 11:38 AM 252 views

USD/CNY fix: 6.6332 vs. 6.6535 previous close, lowest since Nov 5 2020

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© USD/CNY fix: 6.6332 vs. 6.6535 previous close, lowest since Nov 5 2020

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In today’s recent trade, the People’s Bank of China (PBOC) fixed the Yuan (CNY) currency at 6.6332. This compares to the last close of the Yuan currency at 6.6535, the lowest level fix since November 5th, 2020. This was compared with the predicted one to 6.6402.

About the Fixation

China maintains tight control over the Yuan currency rate on the mainland.

In trading constraints, the offshore Yuan currency (CNY) always differs from the onshore one, but the off-shore Yuan is not rigidly controlled.

Each morning, the People's Bank of China (PBOC) establishes a so-called daily midpoint level based on the Yuan's previous day's closing index and various types of quotations obtained from the inter-bank dealer.

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