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PBOC sets USD/ CNY central rate at 7.2076 (vs. estimate at 7.3047)

The Bank is accepting a falling yuan, but not at the pace the market is pricing. Another huge discrepancy between the modelled expectation and the PBOC decision. I'm not sure about the yuan as a candidate for reserve currency status if its so subject to the whims of an organ of the Chinese Communist Party. 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 ra... Read More

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Content Topics

Pboc

Sets

Usd

Central

Rate

2076

Vs

Estimate

3047

7 2076

7 3047

Forex

Posted: Aug 17 2023, 01:15

Author Name: forexlive

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