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Fix For USD/CNY: 6.7079 Versus An Expected 6.7046

 

In today’s latest trade, the People’s Bank of China (PBOC) fixed the Yuan currency rate (CNY) at 6.7079 points in comparison with the estimated one at 6.7046 points, and the preceding day's trade closed at 6.7109 points.

About the Fixation

China manages stern control of the Yuan’s currency rate (CNY) on the mainland.

The onshore Yuan (CNY) currency is always differentiated from the offshore Yuan (CNH) currency 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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