Fix for USD/CNY: 6.7503 Vs the Most Recent Close of 6.7581; Lowest Since June 15

The People's Bank of China (PBOC) set the Yuan (CNY) at 6.7503 today, down from its previous close of 6.7581. The fix for today had the lowest level since June 15th.

July 15, 2022 - 11:55 AM 260 views

Fix for USD/CNY: 6.7503 Vs the Most Recent Close of 6.7581; Lowest Since June 15

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© Fix for USD/CNY: 6.7503 Vs the Most Recent Close of 6.7581; Lowest Since June 15

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The People's Bank of China (PBOC) set the Yuan (CNY) at 6.7503 today, down from its previous close of 6.7581. The fix for today had the lowest level since June 15th.

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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