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PBOC is expected to set the USD/CNY reference rate at 7.2194 – Reuters estimate

Yuan has had a one-way ticket to weakness. The PBOC have been supportive of the devaluation, a lower yuan is a form of stimulus for the export sector. The rapid pace of the fall is expected to result in the PBOC moving to slow the descnet. 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 exchang... Read More

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Pboc

Expected

Usd

Cny

Reference

Rate

2194

Reuters

Estimate

Usd cny

7 2194

Forex

Posted: Jun 27 2023, 00:17

Author Name: forexlive

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