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China's PBOC expected to set Yuan midpoint at 7.2023 per dollar: Reuters estimate

China's PBOC expected to set Yuan midpoint at 7.2023 per dollar: Reuters estimate
Yesterday the midpoint was expected at 7.2198 per dollar. The actual was a lot lower at 7.1588. People'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 "midpo... Read More
Posted: Aug 10 2023, 00:22
Author Name: forexlive
Views: 110615

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