USD/CNY fix: 6.6899 vs. 6.6651 last close

In today’s recent trade (i.e., on May 9), the People’s Bank of China (PBOC) fixed the Yuan currency at 6.6899, which is the weakest since November 3rd 2020 in comparison with the final close of 6.6651.

May 09, 2022 - 01:27 PM 263 views

USD/CNY fix: 6.6899 vs. 6.6651 last close

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© USD/CNY fix: 6.6899 vs. 6.6651 last close

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In today’s recent trade (i.e., on May 9), the People’s Bank of China (PBOC) fixed the Yuan currency at 6.6899, which is the weakest since November 3rd 2020 in comparison with the final close of 6.6651.

About the Fixation

China attempts to maintain a stern restriction over the Yuan currency rate on the mainland.

The off-shore Yuan currency (CNY) always differs from the on-shore Yuan currency (CNY) in trading restrictions, but the former is not strictly regulated.

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

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