Fix for the USD/CNY: 6.7246 versus 6.6986 Previously

The People's Bank of China (PBOC) pegged the yuan (CNY) at 6.7246 in today's most recent transaction, up from the previous fix of 6.6986 and the prior closing of 6.7190.

July 06, 2022 - 12:22 PM 253 views

Fix for the USD/CNY: 6.7246 versus 6.6986 Previously

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© Fix for the USD/CNY: 6.7246 versus 6.6986 Previously

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The People's Bank of China (PBOC) pegged the yuan (CNY) at 6.7246 in today's most recent transaction, up from the previous fix of 6.6986 and the prior closing of 6.7190.

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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