PBOC sets USD/CNY reference rate at 6.7882 vs. 6.7900 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7882 compared to the previous day's fix of 6.7900 and 6.7430 Reuters estimate.
The People’s Bank of China (PBOC) has set the USD/CNY central rate for the trading session ahead at 6.7882, a slight decrease from the previous day’s fix of 6.7900, according to FXStreet. The PBOC’s primary monetary policy objectives are to safeguard price stability, including exchange rate stability, and promote economic growth.
The central bank uses a broader set of monetary policy instruments, such as a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions, and Reserve Requirement Ratio (RRR), to achieve its objectives.
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