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People's Bank of China sets USD/ CNY reference rate today at 7.1987 (vs. estimate 7.2893)

People's Bank of China sets USD/ CNY reference rate today at 7.1987 (vs. estimate 7.2893)
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 7.2855PBOC injects 34bn yuan in open market operations (OMOs) via 7-day reverse repos (RRs) at an unchang... Read More
Posted: Aug 21 2023, 01:16
Author Name: forexlive
Views: 110292

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