Home Forex 6.9116 versus last close of 6.9690

6.9116 versus last close of 6.9690

by SuperiorInvest

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.

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