Category: Forex News

PBOC sets USD/ CNY central rate at 7.0978 (vs. estimate at 7.1863)

By │Published On: March 8, 2024│0.4 min read│Views: 585│0 Comments on PBOC sets USD/ CNY central rate at 7.0978 (vs. estimate at 7.1863)│

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 7.1931

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


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