PBOC sets USD/ CNY reference rate for today at 7.1307 (vs. estimate at 7.1311)

October 28, 2024
-FCHFX

October 28, 2024 at 01:15AM
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 7.1220

more to come

Earlier:

China vice fin min says further stimulus details after National People’s Congress session

ICYMI, People’s Bank of China open market outright reverse repo operations facility

China’s industrial profits collapse in September: -27.1% y/y (vs -17.8% y/y prior)

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

PBOC sets USD/ CNY reference rate for today at 7.1307 (vs. estimate at 7.1311)

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