Fix for USD/CNY: 6.7813 as Opposed to the Prior Fix of 6.7462

The People's Bank of China (PBOC) pegged the Yuan (CNY) at 6.7813 in today's most recent transaction, up from the previous fix of 6.7462 and the prior closing of 6.7500.

August 03, 2022 - 12:07 PM 207 views

Fix for USD/CNY: 6.7813 as Opposed to the Prior Fix of 6.7462

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© Fix for USD/CNY: 6.7813 as Opposed to the Prior Fix of 6.7462

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The People's Bank of China (PBOC) pegged the Yuan (CNY) at 6.7813 in today's most recent transaction, up from the previous fix of 6.7462 and the prior closing of 6.7500.

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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