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PBOC sets USD/ CNY central rate at 7.1453 (vs. estimate at 7.1704)

PBOC sets USD/ CNY central rate at 7.1453 (vs. estimate at 7.1704)
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.1740.Another supportive reference rate for the yuan. PBOC injects 15bn yuan in open market operations (... Read More
Posted: Jul 18 2023, 01:15
Author Name: forexlive
Views: 102132

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