Fix for USD/CNY: 6.6863 versus The Previous Closure of 6.7001

In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.6863 points in comparison with the preceding day’s trade, which closed at 6.7001 points.

July 01, 2022 - 01:06 PM 287 views

Fix for USD/CNY: 6.6863 versus The Previous Closure of 6.7001

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© Fix for USD/CNY: 6.6863 versus The Previous Closure of 6.7001

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In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.6863 points in comparison with the preceding day’s trade, which closed at 6.7001 points.

About the Fixation

China manages stern control over the Yuan’s currency rate on the mainland.

The onshore Yuan currency (CNY) is always differentiated from the offshore Yuan currency (CNH) in the trading limitations, but the latter one is not as rigidly managed.

On each morning, the People’s Bank of China (PBOC) fixes a so-called mid-point fix, which is based on the Yuan’s currency (CNY) preceding day‘s closed value and the various kinds of quotations taken from the inter-bank dealer.

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