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PBOC sets USD/ CNY central rate at 7.1596 (vs. estimate at 7.1630)

PBOC sets USD/ CNY central rate at 7.1596 (vs. estimate at 7.1630)
The big news out of China is here, another policy rate cute from the People's Bank of China:PBOC Loan Prime Rates (LPR) CUT: 1-year 3.55% (prior 3.65%) & 5 year 4.20% (prior 4.30%)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 expe... Read More
Posted: Jun 20 2023, 01:20
Author Name: forexlive
Views: 081182

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