Because the exchange rate market is a constantly fluctuating market, the exchange rate of RMB against the US dollar has been constantly fluctuating. The so-called current price refers to the buying or selling price of RMB at the time of a transaction.
But like stocks, the trading time of each trading day is limited. Foreign exchange trading is stopped from opening to closing, not 24 hours a day. So there is a middle price for the day's trading. To put it simply: (average buying price+average selling price) ÷2, as the central axis of exchange rate fluctuation in the next trading day.
★ The formation method of the central parity of RMB against the US dollar is as follows: China Foreign Exchange Trading Center makes an inquiry to all market makers in the inter-bank foreign exchange market before the daily opening of the inter-bank foreign exchange market, and takes the quotations of all market makers as the calculation sample of the central parity of RMB against the US dollar. After excluding the highest quotation and the lowest quotation, the remaining market makers' quotations are weighted and averaged to get the central parity of RMB against the US dollar on that day, and the weight is determined by China Foreign Exchange Trading Center according to the trading volume and quotations of the quotations in the inter-bank foreign exchange market.