Fix for USD/CNY: 6.7143 as Opposed to the Last Fix of 6.7246

The People's Bank of China (PBOC) pegged the Yuan currency (CNY) at 6.7143 in today's most recent transaction, compared to the previous fix of 6.7246 and the prior close of 6.7068.

July 07, 2022 - 12:25 PM 241 views

Fix for USD/CNY: 6.7143 as Opposed to the Last Fix of 6.7246

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© Fix for USD/CNY: 6.7143 as Opposed to the Last Fix of 6.7246

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The People's Bank of China (PBOC) pegged the Yuan currency (CNY) at 6.7143 in today's most recent transaction, compared to the previous fix of 6.7246 and the prior close of 6.7068.

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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