PBOC Announcement: USD/CNY Central Rate Adjusted to 7.1286

Monday, 8 July 2024, 09:06
The People's Bank of China (PBOC) announced the adjustment of the USD/CNY central rate to 7.1286, slightly lower than the previous day's fix. This move indicates a strategic shift in currency valuation by the PBOC.
FXStreet
PBOC Announcement: USD/CNY Central Rate Adjusted to 7.1286

USD/CNY Central Rate Adjustment

The People's Bank of China (PBOC) made a significant change to the USD/CNY central rate on Monday, setting it at 7.1286.

Impact on Exchange Rate

  • The adjustment reflects PBOC's stance on currency management.
  • This move may influence market sentiment and trading dynamics.

Overall, the adjustment signals the PBOC's commitment to stabilizing the exchange rate within a specified range.

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.

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe