Fix for USD/CNY: 6.7287 Versus the Previous Closing of 6.7140

The People's Bank of China (PBOC) put the yuan (CNY) at 6.7287 today in recent trade, up from the previous closing of 6.7140.

July 12, 2022 - 10:25 AM 277 views

Fix for USD/CNY: 6.7287 Versus the Previous Closing of 6.7140

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© Fix for USD/CNY: 6.7287 Versus the Previous Closing of 6.7140

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The People's Bank of China (PBOC) put the yuan (CNY) at 6.7287 today in recent trade, up from the previous closing of 6.7140.

About the Fixation

On the mainland, China maintains tight control over yuan exchange rates.

The offshore yuan (CNH), which is less heavily regulated than the onshore yuan (CNY), has different trading regulations.

The People's Bank of China (PBOC) establishes a so-called daily midpoint fix every morning based on the yuan's closing level from the previous day and quotes obtained from the inter-bank dealer.

 

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