The interbank market is the top-level foreign exchange market where banks exchange different currencies.[1] The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services (EBS) and Thomson Reuters Dealing are the two competitors in the electronic brokering platform business and together connect over 1000 banks.[1] The currencies of most developed countries have floating exchange rates. These currencies do not have fixed values but, rather, values that fluctuate relative to other currencies.
Now if you will go to this link and read number 26 thru 28
And tell me what you think the cbi is saying
http://books.google.com/books?id=Kb9lShuGRNoC&pg=PT68&lpg=PT76&ots=aC87hx0kEr&focus=viewport&dq=3.+For+purposes+of+monitoring+under+the+program,+a+program+exchange+rate+will+be+used.+This+program+exchange+rate+will+be+set+at+ID+1,170+per+U.S.+dollar.&output=html_text
I can't copy and paste here so ya got to read it
It's only two paragraphs