PBOC sets USD/ CNY reference rate today at 6.9929 (vs. estimate 6.9481)


The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a +/- 2% range, around a central reference rate, or “midpoint.” The rate set under 7 today for the first time since May 2023.

Previous close 6.9672

PBoC injects 125bn yuan through 7-day reverse repos at 1.40%.

Earlier:

This article was written by Eamonn Sheridan at investinglive.com.

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