The benchmark price of RMB exchange rate will be announced before July 2, 20051. After the reform of RMB exchange rate formation mechanism on July 2 1 RMB, the People's Bank of China announced the closing price of RMB against USD and other trading currencies in the inter-bank foreign exchange market on that day after the market closed every working day, as the middle price of RMB trading on the next working day. 65438+From April 4th, 2006 10, the People's Bank of China authorized China Foreign Exchange Trading Center to announce the central parity of RMB against USD, EUR, JPY and HKD at 9: 00 every working day as the central parity of spot foreign exchange market (including off-site and matchmaking methods) and over-the-counter exchange rate of banks.