PBOC sets USD/ CNY central rate at 7.1321 (vs. estimate at 7.2706)

The 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 7.2640In open market operations:PBOC injects 235bn via 7-day RR, sets rate at 1.7%more to come This article was written by Eamonn Sheridan at www.forexlive.com.

Jul 25, 2024 - 07:15
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PBOC sets USD/ CNY central rate at 7.1321 (vs. estimate at 7.2706)

The 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 7.2640

In open market operations:

  • PBOC injects 235bn via 7-day RR, sets rate at 1.7%

more to come This article was written by Eamonn Sheridan at www.forexlive.com.

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