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PBOC is expected to set the USD/CNY reference rate at 7.3065 – Reuters estimate

In Chinese media today a report says the People's Bank of China should use its countercyclical measure to support the yuan. Yesterday the People's Bank of China signalled very clearly it'd like the yuan to stop plunging so rapidly, with a reference rate more than 10 big figures away from the modelled estimate:its most aggressive setting divergence in this episode of yuan weakness so far and a sign the Bank wants to slow the descent of the currencyPBOC sets USD/ CNY central rate at 7.2076 (vs. es... Read More

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Pboc

Expected

Usd

Cny

Reference

Rate

3065

Reuters

Estimate

Usd cny

7 3065

Forex

Posted: Aug 18 2023, 00:27

Author Name: forexlive

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