The People’s Bank of China (PBOC) set the yuan (CNY) reference rate at 6.4705 today, compared to an estimated 6.4678 and a previous 6.4640.
On the mainland, China maintains tight control over the yuan’s rate.
In terms of trading restrictions, the onshore yuan (CNY) differs from the offshore yuan (CNH), which is less tightly controlled.
The People’s Bank of China (PBOC) sets a so-called daily midpoint fix each morning, based on the yuan’s previous day’s closing level and inter-bank dealer quotations.
These pages include forward-looking statements that are subject to risks and uncertainties. This page’s market and instrument profiles are for educational purposes only and should not be construed as a recommendation to buy or sell these assets. Before making any investment decisions, you should conduct your own thorough research. FXStreet makes no representations or warranties that this information is free of errors, omissions, or material misstatements. It also doesn’t guarantee that the information is accurate or up to date. Investing in the open markets carries a high level of risk, including the loss of all or part of your money as well as emotional distress. You are responsible for all risks, losses, and costs associated with investing, including total loss of principal. The authors’ views and opinions in this article are their own and do not necessarily reflect FXStreet’s or its advertisers’ official policy or position. The author will not be held liable for any information found at the end of any of the links on this page.
Unless otherwise stated in the body of the article, the author has no position in any of the stocks mentioned in this article and has no business relationship with any of the companies mentioned. Apart from FXStreet, the author received no remuneration for writing this article.
The author and FXStreet do not make individualized suggestions. The author offers no guarantees about the information’s correctness, completeness, or usefulness. FXStreet and the author are not responsible for any mistakes, omissions, or losses, injuries, or damages resulting from the display or use of this information. Errors and omissions are not included.
Nothing in this article is intended to be investment advice, and neither the author nor FXStreet are registered investment advisors./n
