Home.forex news reportPBOC sets USD/ CNY central rate at 7.0989 (vs. estimate at 7.1010)

PBOC sets USD/ CNY central rate at 7.0989 (vs. estimate at 7.1010)

September 5, 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 7.1125

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

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