USDCNY @ 6.79545 – fix: 6.7863 vs. est 6.7876 and previous 6.7730
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE and login below to read further [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.7863 vs.the estimated at 6.7876 and the previous 6.7730.
China maintains strict control of the yuan’s rate on the mainland.
The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled.
Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day’s closing level and quotations taken from the inter-bank dealer.
[/s2If]
