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PBOC sets USD/ CNY central rate at 7.1781 (vs. estimate at 7.2758)

People's Bank of China USD/CNY reference rate.The closing rate was 7.2935The 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 proces... Read More

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Content Topics

Pboc

Sets

Usd

Central

Rate

1781

Vs

Estimate

2758

7 1781

7 2758

Forex

Posted: Oct 10 2023, 01:15

Author Name: forexlive

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