The exchange rate is very sensitive to time and may fluctuate at any time. The People's Bank of China announces the benchmark exchange rates of USD, JPY and HKD against RMB on the basis of the weighted average price of USD against RMB in the inter-bank foreign exchange market on the previous trading day, and calculates the exchange rates of RMB against other major currencies with reference to the international foreign exchange market. On this basis, the designated foreign exchange banks will handle foreign exchange business by listing themselves within the specified floating range.
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