Fix for USD/CNY: 6.7522 Versus Anticipated 6.7485

The People's Bank of China (PBOC) set the Yuan (CNY) at 6.7522 today in recent activity, vs an estimated 6.7485 and the previous 6.7620.

July 22, 2022 - 12:40 PM 303 views

Fix for USD/CNY: 6.7522 Versus Anticipated 6.7485

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© Fix for USD/CNY: 6.7522 Versus Anticipated 6.7485

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The People's Bank of China (PBOC) set the Yuan (CNY) at 6.7522 today in recent activity, vs an estimated 6.7485 and the previous 6.7620.

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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