{
  "id": 19584163,
  "title": "PBOC sets USD/CNY reference rate at 6.7174 vs. 6.7191 previous",
  "url": "https://urgent.news/2026/11/12/pboc-sets-usd-cny-reference-rate-at-6-7174-vs-6-7191-previous",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T01:15:28.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/pboc-sets-usd-cny-reference-rate-at-6774-vs-67191-previous-202611120115"
  },
  "original_language": "en",
  "account": "On Thursday, the People's Bank of China (PBOC) announced a USD/CNY central rate of 6.7174, down from the previous day's rate of 6.7191 and an estimated 6.6797. The PBOC's main objectives are maintaining price stability, including exchange rates, and fostering economic growth. The central bank, owned by the state of the People's Republic of China, operates under the influence of the Chinese Communist Party (CCP) Committee Secretary, often the same individual as the governor. Unlike Western central banks, the PBOC utilizes a broader range of monetary policy tools, such as the Reverse Repo Rate, Medium-term Lending Facility, foreign exchange interventions, and the Reserve Requirement Ratio, to achieve its goals. The LPR, China's benchmark interest rate, directly impacts loan, mortgage, and savings interest rates. By adjusting the LPR, the central bank can influence the Chinese Renminbi's exchange rate. China has 19 private banks, with WeBank and MYbank being the largest private lenders backed by tech giants Tencent and Ant Group.",
  "summary": "The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.7174 compared to the previous day's fix of 6.7191 and 6.6797 Reuters estimate.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}