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PBOC sets USD/ CNY central rate at 7.1733 (vs. estimate at 7.2839)

The 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 7.2920The 7.1733 rate is a massive 1100+ points away from the modelled estimate of 7.2839. The People...
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Posted: Sep 19 2023, 01:15
Author Name: forexlive
Views: 091173