USD/CNY Fixed: 6.7000 Against Expected 6.6964

In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.7000 points in comparison with the predicted one at 6.6964 points, and the preceding day’s trade was closed at 6.7079 points.

June 24, 2022 - 10:57 AM 255 views

USD/CNY Fixed: 6.7000 Against Expected 6.6964

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© USD/CNY Fixed: 6.7000 Against Expected 6.6964

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In today’s new trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.7000 points in comparison with the predicted one at 6.6964 points, and the preceding day’s trade was closed at 6.7079 points.

About the Fixation

China manages to have stern control over the Yuan’s currency rate on the mainland.

The onshore Yuan currency (CNY) is always differentiated with the off-shore 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 midpoint fix, which is based on the Yuan’s currency; the preceding day’s trading value, and the various kinds of quotations taken from the inter-bank dealer.

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