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PBOC is expected to set the USD/CNY reference rate at 7.2967 – 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. How the process wo... Read More

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Pboc

Expected

Usd

Cny

Reference

Rate

2967

Reuters

Estimate

Usd cny

7 2967

Forex

Posted: Sep 1 2023, 00:22

Author Name: forexlive

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