PBOC Boosts USD/CNY Reference Rate to 6.9158, Surpassing 6.9114 Previous Benchmark!
The People’s Bank of China (PBOC) set the USD/CNY central rate at 6.9158 on Monday, as opposed to the previous fix of 6.9114 and market expectations of 6.9159. The USD/CNY had closed near 6.9080 the previous day. China maintains strict control of the yuan’s rate on the mainland, while the onshore yuan (CNY) differs from […]
PBOC Breaks Boundaries: Fixes USD/CNY Reference Rate at 6.9054 Against Previous 6.9249
The People’s Bank of China (PBOC) set the USD/CNY central rate at 6.9054 on Thursday, compared to the previous fix of 6.9249 and market expectations of 6.9061. It is important to highlight that the USD/CNY closed near 6.9179 the day before. In addition to the daily USD/CNY fix, the PBOC provides details of the Open […]
PBOC’s Bold Move: USD/CNY Reference Rate Shifts to 6.8764, Breaks From 6.8838 Precedent
The People’s Bank of China (PBOC) set the USD/CNY central rate at 6.8764 on Monday, slightly below the previous Friday’s fix of 6.8838 and market expectations of 6.8739. Significantly, the USD/CNY closed near 6.8676 the previous day. The PBOC also released data for the Open Market Operations (OMO), with calculations by Reuters suggesting that the […]