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PBOC sets USD/ CNY reference rate for today at 7.1745 (vs. estimate at 7.2857)

  • March 3, 2025
  • -FCHFX

March 03, 2025 at 01:15AM
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%.

The previous close was 7.2798

PBOC injects 97bn yuan via 7-day RR, sets rate at 1.5%

292.5bn yuan mature today

net drain is 195.5bn yuan

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

PBOC sets USD/ CNY reference rate for today at 7.1745 (vs. estimate at 7.2857)
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