USD/CNY fix: 6.6756 compared. 6.6934 expected and 6.748 before

In today’s recent trade, the People’s Bank of China (PBOC) fixed the Yuan (CNY) currency at 6.6756 points in comparison with the predicted one at 6.6934 points, and earlier it was at 6.748 points.

May 23, 2022 - 02:48 PM 266 views

USD/CNY fix: 6.6756 compared. 6.6934 expected and 6.748 before

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© USD/CNY fix: 6.6756 compared. 6.6934 expected and 6.748 before

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In today’s recent trade, the People’s Bank of China (PBOC) fixed the Yuan (CNY) currency at 6.6756 points in comparison with the predicted one at 6.6934 points, and earlier it was at 6.748 points.

About the Fixation

On the mainland, China maintains a strict limit on the Yuan (CNY) currency rate.

In trading restrictions, the On-share Yuan (CNY) is always distinguished from the Off-share Yuan (CNY).Hence; the latter one is not as rigidly controlled.

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

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