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%.
The closing rate was 7.2926.
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Today's 7.2110 is the weakest for CNY since September 11, 2023
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( PBOC sets USD/ CNY reference rate for today at 7.2110 (vs. estimate at 7.3251) )
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