USD/CNY Fixed at 6.7282 versus 6.7229 at Last Close

The People's Bank of China (PBOC) put the yuan (CNY) at 6.7282 today in recent trade, up from the previous closing of 6.7229.

July 13, 2022 - 11:43 AM 230 views

USD/CNY Fixed at 6.7282 versus 6.7229 at Last Close

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© USD/CNY Fixed at 6.7282 versus 6.7229 at Last Close

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The People's Bank of China (PBOC) put the yuan (CNY) at 6.7282 today in recent trade, up from the previous closing of 6.7229.

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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