PBOC sets USD/ CNY reference rate for today at 7.0870 (vs. estimate at 7.0828)

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Post author By admin_biglotfx
September 18, 2024
No Comments on PBOC sets USD/ CNY reference rate for today at 7.0870 (vs. estimate at 7.0828) | Forexlive

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.

Mainaland China is back from holidays on Monday and Tuesday today.

The previous close was 7.0958

more to come

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

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Tags PBOC CNY reference rate setting for the trading session ahead.

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