Oct 25, 2022
VOT Research Desk
The People’s Bank of China (PBOC) has pegged the yuan (CNY) at 7.1668 vs. the previous 7.1230 and the previous closing of 7.2629.
The lowest level since 2008. On the mainland, China maintains tight control over yuan exchange rates.
The offshore yuan (CNH), which is less heavily regulated than the onshore yuan (CNY), has different trading regulations.
The People’s Bank of China (PBOC) establishes a so-called daily midpoint fix every morning based on the yuan’s closing level from the previous day and quotes obtained from the inter-bank dealer.
