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PBOC sets USD/ CNY mid-point today at 7.0542 (vs. estimate at 7.0563)

PBOC sets USD/ CNY mid-point today at 7.0542 (vs. estimate at 7.0563)

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 7.0550.

The People's Bank of China has set the CNY at its strongest (i.e. lowest for USD/CNY) si... Read More

Posted: Dec 2 2022, 01:15
Author Name: forexlive
Views: 110585

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