“Breaking: 6.8854 vs. 6.8855 – Unbelievable Face-Off in Latest Market Close!”
The People’s Bank of China (PBOC) controls the onshore yuan’s (CNY) exchange rate against the US dollar by maintaining a strict trading range around a daily fixed mid-point. Following the New York market close, the PBOC announces the onshore yuan’s fixing rate for the next trading day. It determines the fixing against the US dollar […]