PBOC sets USD/ CNY reference rate for today at 6.4691 (vs. yesterday at 6.4655)

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.    

  • USD/CNY is 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. 
  • The previous close was 6.4666
  • Reuters estimate was 6.4683 (A rate that’s significantly stronger or weaker than expected is typically considered a signal from the PBOC).  

injects 10bn yuan via 7-day reverse repos

Invest in yourself. See our forex education hub. Source

Leave a Reply

Your email address will not be published. Required fields are marked *