Home Forex 6.7674 versus the previous correction of 6.7602

6.7674 versus the previous correction of 6.7602

by SuperiorInvest

In recent trade today, the People’s Bank of China (PBOC) fixed the yuan (CNY) at 6.7674, versus a previous fix of 6.7602 and a previous close of 6.7620.

About the repair

China maintains tight control over the yuan’s exchange rate on the mainland.

Onshore yuan (CNY) differs from offshore yuan (CNH) in trading restrictions, the latter is not as strictly controlled.

Every morning, the People’s Bank of China (PBOC) sets the so-called daily mid-fixation based on the previous day’s closing level of the yuan and quotes taken from the interbank dealer.

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