Fix for the USD/CNY: 6.7437 Against an Estimate of 6.7414 and a Close of 6.7466

The People's Bank of China (PBOC) put the Yuan (CNY) at 6.7437 in current trade today, against an estimate of 6.7414 and the previous close of 6.7466.

July 29, 2022 - 12:35 PM 296 views

Fix for the USD/CNY: 6.7437 Against an Estimate of 6.7414 and a Close of 6.7466

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© Fix for the USD/CNY: 6.7437 Against an Estimate of 6.7414 and a Close of 6.7466

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The People's Bank of China (PBOC) put the Yuan (CNY) at 6.7437 in current trade today, against an estimate of 6.7414 and the previous close of 6.7466.

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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