Onshore RMB refers to the RMB exchange rate in the domestic market, which is mainly used for the exchange of RMB and foreign currencies in the domestic market.
Refers to the exchange rate of RMB in the overseas market, which is mainly used for the exchange of RMB and foreign currencies in the overseas market.
For example, the People’s Bank of China authorizes the China Foreign Exchange Trade System to publish on the morning of each working day the price of RMB against Euro, and, and, as the reference price of the exchange rate in the interbank spot foreign exchange market and over the counter transactions of banks on that day.
The onshore RMB is characterized by a fixed exchange rate, with reference to the US dollar, a large scale, less fluctuation and more policy control.
