People's Bank of China Sets New USD/CNY Reference Rate

Monday, 15 July 2024, 01:23

The People's Bank of China (PBOC) updated the USD/CNY central rate to 7.1313, slightly higher than the previous day's fix of 7.1300 and lower than Reuters estimates of 7.2548. This adjustment indicates PBOC's action to manage the exchange rate amidst market fluctuations.
Fxstreet
People's Bank of China Sets New USD/CNY Reference Rate

People's Bank of China Adjustment

The PBOC set the USD/CNY reference rate at 7.1313 on Monday.

Comparison to Previous Fix

The new rate was slightly higher than the previous day's fix of 7.1300.

Deviation from Reuters Estimates

The rate was lower than the 7.2548 estimate by Reuters.


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.


Related posts


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