In recent trading today, the People’s Bank of China (PBOC) pegged the yuan (CNY) at 6.9116, versus a recent close of 6.9690.
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.