Fix for the USD/CNY: 6.7620 Vs a Forecast of 6.7609

The People's Bank of China (PBOC) pegged the Yuan (CNY) at 6.7620 in today's recent transaction, against a forecast of 6.7609 and the previous 6.7465.

July 21, 2022 - 12:41 PM 228 views

Fix for the USD/CNY: 6.7620 Vs a Forecast of 6.7609

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© Fix for the USD/CNY: 6.7620 Vs a Forecast of 6.7609

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The People's Bank of China (PBOC) pegged the Yuan (CNY) at 6.7620 in today's recent transaction, against a forecast of 6.7609 and the previous 6.7465.

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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