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PBOC sets USD/ CNY mid-point today at 7.1779 (vs. estimate at 7.2842)

People's Bank of China USD/CNY reference rate.The previous 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 th... Read More

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Content Topics

Pboc

Sets

Usd

Mid

Point

Today

1779

Vs

Estimate

2842

Mid point

7 1779

7 2842

Forex

Posted: Oct 11 2023, 01:15

Author Name: forexlive

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