PBOC sets USD/ CNY central rate at 6.4307 (vs. estimate at 6.4275)

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. 
  • Reuters estimate was 6.4275. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.     
  • The previous close was 6.4294
  • Yesterday’s mid-rate was 6.4300 (the strongest mid-rate for the onshore yuan against the USD since the middle of June). 

  

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