USD/CNY Fix: 6.3599 vs. the estimated 6.3618

Today's trade saw the People's Bank of China set the yuan at 6.3599, compared to the 6.3618 estimate and the previous 6.3653.

USD/CNY Fix: 6.3599 vs. the estimated 6.3618

About the fix

China keeps a tight control on the rate of the yuan on the mainland.

Trading restrictions differ between the CNY (onshore yuan) and the CNH (offshore yuan). The latter is less tightly controlled.

The People's Bank of China's (PBOC), sets a daily midpoint fix each morning based on the yuan's closing level for the previous day and the quotations from inter-bank dealers.

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