USD/CNY Fix: 6.6649 vs 6.6544 ( The Last Day’s Closed Value)

In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.6649 points in comparison with the previous day’s trade, which closed at 6.6544 points.

June 07, 2022 - 11:24 AM 292 views

USD/CNY Fix: 6.6649 vs 6.6544 ( The Last Day’s Closed Value)

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© USD/CNY Fix: 6.6649 vs 6.6544 ( The Last Day’s Closed Value)

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In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.6649 points in comparison with the previous day’s trade, which closed at 6.6544 points.

About the Fixation

China maintains tight control over the Yuan currency rate (CNY) on the mainland.

The onshore Yuan currency (CNY) is always differentiated from the onshore Yuan (CNH) in the trading limitations, but the latter one is not as rigidly managed.

On each morning, the People’s Bank of China (PBOC) fixes a so-called mid-point fix, which is based on the Yuan’s previous day's closing value and various kinds of quotations taken from the inter-bank dealer.

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