Home.forex news reportPBOC sets USD/ CNY central rate at 7.1112 (vs. estimate at 7.1120)

PBOC sets USD/ CNY central rate at 7.1112 (vs. estimate at 7.1120)

September 3, 2024

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.

The previous close was 7.1170

more to come

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

Source link