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PBOC is expected to set the USD/CNY reference rate at 7.1795 – Reuters estimate

Models estimating the reference rate the PBCO is likely to set each day have not been showing much accuracy in past weeks. The PBOC appears to be disregarding models, actively and substantially trying to deter yuan bears but boosting the CNY at the daily rate setting. As background to the reference rate setting: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 (al... Read More

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Pboc

Expected

Usd

Cny

Reference

Rate

1795

Reuters

Estimate

Usd cny

7 1795

Forex

Posted: Jul 24 2023, 00:20

Author Name: forexlive

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