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PBOC is expected to set the USD/CNY reference rate at 6.8826 – Reuters estimate

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 "midpoint." It's currently at +/- 2% and some think it could widen to 3% this year. The PBOC governo... Read More

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Pboc

Expected

Usd

Cny

Reference

Rate

8826

Reuters

Estimate

Usd cny

6 8826

Forex

Posted: Apr 24 2023, 00:19

Author Name: forexlive

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