On July 2, 2005, KLOC-0/After the reform of RMB exchange rate formation mechanism was implemented, the People's Bank of China announced the closing price of USD and other trading currencies against RMB in the inter-bank foreign exchange market on that day after the market closed every working day, as the middle price of the currency against RMB in the next working day.
From June 5438+1October 4, 2006, 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 bank counter transactions on that day.
The formation mode of the middle price has also changed from the closing price guidance mode in 2005 to the opening price inquiry mode.