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14 Mar 2023

USD/CNY fix: 6.8949 vs. estimate of 6.8933

In recent trade today, the People’s Bank of China (PBOC) set the yuan at 6.8949 vs. the estimation of at 6.8933.

About the fix

China maintains strict control of the yuan’s rate on the mainland.

The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled.

Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day's closing level and quotations taken from the inter-bank dealer.

Mar 14, 2023

Silver Price Analysis: Key EMAs prod XAG/USD bulls at three-week high near $22.00

Silver price (XAG/USD) slides to around $21.70 as bulls take a breather following the biggest daily jump in more than four months. With this, the brig
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Mar 14, 2023

NZD/USD drops to near 0.6200 as USD Index rebounds ahead of US Inflation

The NZD/USD pair has extended its correction below 0.6220 in the Asian session. The Kiwi asset is expected to display sheer volatility ahead as invest
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