In order to better facilitate RMB/FX pricing and trading and provide more market-based exchange rate references for the market players, CFETS has started to publish the reference rates of RMB against USD and other major foreign currencies according to market requirements on each trading day since August 24th, 2015 on www.chinamoney.com.cn. The adopted calculation method is by taking the weighted average of the market dealt prices within 30 seconds before each time point respectively. The reference rates of all the time points are based on the domestic interbank FX market dealt prices and are a comprehensive reflection of FX market supply and demand on the due trading day.
CFETS has started to publish the USD/CNY reference rates since August 24th, 2015, including reference rates at 10:00, 11:00, 14:00, 15:00, 16:00, and started to publish seven more reference rates at 17:00, 18:00, 19:00, 20:00, 21:00, 22:00 and 23:00 since the extension of trading time of China interbank FX market on January 1st, 2016.
CFETS has started to publish the EUR/CNY, JPY/CNY and GBP/CNY reference rates since August 25th, 2016, including reference rates at 11:00 and 15:00, and started to publish three more reference rates at 10:00, 14:00 and 16:00 since July 31, 2017.