USD/CNY fix: 6.6177 vs. 6.6127 Estimate

The estimated Yuan’s currency (CNY) is 6.6127 and, currently, the People’s Bank of China set the Yuan (CNY) at 6.6177 in today’s trade.

April 29, 2022 - 10:49 AM 260 views

USD/CNY fix: 6.6177 vs. 6.6127 Estimate

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© USD/CNY fix: 6.6177 vs. 6.6127 Estimate

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The estimated Yuan’s currency (CNY) is 6.6127 and, currently, the People’s Bank of China set the Yuan (CNY) at 6.6177 in today’s trade.

How is it fixed?

On the mainland, China maintains a stern control of the Yuan’s currency rate.

In China’s trading restrictions, the off-shore currency (CNH) always differs from the on-shore Yuan currency, but the off-shore Yuan is not as tightly controlled as the on-shore.

Based on the Yuan’s previous day's closing price and from the quotations of the various inter-bank dealers, the People’s Bank of China (PBOC) fixes a daily midpoint rate each morning.

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