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China PBOC expected to set Yuan midpoint at 7.1869: Reuters

Yesterday, the PBOC set the USD/CNY central rate at 7.1380People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2% and som... Read More

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Content Topics

China

Pboc

Expected

Yuan

Midpoint

1869

Reuters

7 1869

Forex

Posted: Aug 8 2023, 00:20

Author Name: forexlive

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