PBOC sets USD/CNY reference rate at 6.7447 on Monday

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PBOC sets USD/CNY reference rate at 6.7447 on Monday
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PBOC sets USD/CNY reference rate at 6.7447 on Monday – by anilpanchal7 PBOC USDCNY InterestRate RiskAppetite CentralBanks

It’s worth noting that the PBOC’s USD/CNY fix dropped to the lowest levels since June 15 the previous day. Further, Monday’s crossed market expectations of printing 6.7458 figure.

Each morning, the People’s Bank of China sets a so-called daily midpoint fix, based on the yuan’s previous day's closing level and quotations taken from the inter-bank dealer.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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