People's Bank of China Decision Impacts USD/CNY Exchange Rate
Tuesday, 9 April 2024, 01:15
USD to CNY Exchange Rate Decision
The People's Bank of China has set the onshore yuan (CNY) reference rate at 7.0956.
USD/CNY is the onshore yuan, and its trading is restricted within a specific range from this reference rate.
On the other hand, CNH, the offshore yuan, has no trading restrictions.
A significant deviation from the expected rate is often seen as a signal from the PBOC regarding currency strength.
The previous closing rate was 7.2305.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.