USD/CNY reference rate fixed at 6.6048 vs prev fix 6.6285 and close 6.6060
|The People’s Bank of China fixes the USD/CNY reference rate at 6.6048 (prev fix 6.6285 prev close 6.6060).
China maintains strict control of the yuan’s rate on the mainland, the current known as CNY which differs from its offshore yuan, or CNH, which not as tightly controlled as the onshore yuan.
Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day closing level and quotations taken from inter-bank dealer.
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