USD/CNY fix: 6.7854, up from 6.7871 previously

In today’s latest trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.7854 points in comparison to the previous fix of 6.7871 points, and the last day it closed at 6.7870 points.

May 17, 2022 - 02:49 PM 250 views

USD/CNY fix: 6.7854, up from 6.7871 previously

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© USD/CNY fix: 6.7854, up from 6.7871 previously

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In today’s latest trade, the People’s Bank of China (PBOC) fixed the Yuan currency (CNY) at 6.7854 points in comparison to the previous fix of 6.7871 points, and the last day it closed at 6.7870 points.

About the Fixation

On the mainland, China maintains a tight restriction on the Yuan’s (CNY) currency rate.

While trading restrictions exist, the onshore Yuan (CNY) always differs from the off-share Yuan currency (CNY) , but the latter is not strictly controlled.

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

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