CFETS, authorized by the PBC, calculates and publishes CNY referecm-rightnce rates against those   currencies not listed on CFETS. On the last business day of each month, CNY reference rates are calculated by counting respectively the cross rates between the RMB central parity and the exchange rates of USD against those currencies quoted at international FX market at 9:00 am (Beijing time). Those rates published are for reference only.