Fix for USD/CNY: 6.7636 as Opposed to the Last Fix of 6.7813

The People's Bank of China (PBOC) pegged the Yuan (CNY) at 6.7636 in today's most recent transaction, down from the previous fix of 6.7813 and the prior closing of 6.7597.

August 04, 2022 - 12:59 PM 211 views

Fix for USD/CNY: 6.7636 as Opposed to the Last Fix of 6.7813

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© Fix for USD/CNY: 6.7636 as Opposed to the Last Fix of 6.7813

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The People's Bank of China (PBOC) pegged the Yuan (CNY) at 6.7636 in today's most recent transaction, down from the previous fix of 6.7813 and the prior closing of 6.7597.

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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