PBOC sets USD/ CNY central rate at 7.1937 (vs. estimate at 7.2133) ...Middle East

China's Commerce Ministry says US measures on China chips are bullying, protectionist

The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.

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

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