USD/CNY fix: 6.7109 vs. 6.7060 Expected

In today’s latest trade, the People’s Bank of China (PBOC) fixed the Yuan currency rate at 6.7109 points in comparison with the estimated one at 6.7060 points, and the preceding day’s trade was closed at 6.6851 points.

June 22, 2022 - 11:59 AM 234 views

USD/CNY fix: 6.7109 vs. 6.7060 Expected

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© USD/CNY fix: 6.7109 vs. 6.7060 Expected

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In today’s latest trade, the People’s Bank of China (PBOC) fixed the Yuan currency rate at 6.7109 points in comparison with the estimated one at 6.7060 points, and the preceding day’s trade was closed at 6.6851 points.

About the Fixation

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

The onshore Yuan (CNY) currency is always differentiated from the offshore Yuan currency (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 mid-point fix, which is based on the Yuan’s preceding day’s closing value and the various kinds of quotations taken from the inter-bank dealer.

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