Fix for USD/CNY: 6.7543 Vs 6.7518 At the Previous Closing

The People's Bank of China (PBOC) put the Yuan (CNY) at 6.7543 today in recent activity, up from the previous closing of 6.7518.

July 25, 2022 - 12:37 PM 308 views

Fix for USD/CNY: 6.7543 Vs 6.7518 At the Previous Closing

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© Fix for USD/CNY: 6.7543 Vs 6.7518 At the Previous Closing

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The People's Bank of China (PBOC) put the Yuan (CNY) at 6.7543 today in recent activity, up from the previous closing of 6.7518.

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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