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PBOC sets USD/ CNY mid-point today at 7.1697 (vs. estimate at 7.2538)

  • February 18, 2025
  • -FCHFX

February 18, 2025 at 01:17AM
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.

Last close was 7.2650

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

PBOC sets USD/ CNY mid-point today at 7.1697 (vs. estimate at 7.2538)
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