June 27, 2022 - 12:12 PM 274 views
In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.6850 in comparison with the previous day’s trade, which closed at 6.6898 points.
About the Fixation
China manages stern control over the Yuan’s currency rate on the mainland.
The onshore Yuan currency (CNY) is always differentiated from the off-shore Yuan currency (CNH) in the trading limitations, but the latter one is not as rigidly controlled.
On each morning, the People’s Bank of China (PBOC) fixes a so-called mid-point fix, which is based on the preceding day’s closed value and the various kinds of quotations taken from the inter-bank dealer.
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