PBOC sets USD/ CNY reference rate for today at 7.1449 (vs. estimate at 7.1690)

August 9, 2024
-Chinese Yuan, FCHFX, US Dollar

August 09, 2024 at 02:15AM
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 7.1753

more to come

Still to come, CPI & PPI from China:

Economic calendar in Asia 09 August 2024 – Chinese inflation data for July

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

PBOC sets USD/ CNY reference rate for today at 7.1449 (vs. estimate at 7.1690)

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