In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.8536, while the last close was at 6.8579, the lowest level since August 31, 2020.
About the repair
China maintains strict control over the exchange rate of RMB to the mainland.
Onshore RMB (CNY) has different trading restrictions than offshore RMB (CNH), the last one is less strict.
Every morning, the People’s Bank of China (PBOC) so-called daily midpoint rate, based on the yuan’s closing price the previous day and quotes from interbank dealers.
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