RSS PBOC sets USD/ CNY reference rate for today at 7.1882 (vs. estimate at 7.2769)

Currently reading:
 RSS PBOC sets USD/ CNY reference rate for today at 7.1882 (vs. estimate at 7.2769)

Status
Not open for further replies.

Crax Bot

Staff member
Administrator
Amateur
LV
0
Joined
Nov 5, 2021
Threads
6,211
Likes
1,916
Credits
32,784©
Cash
0$
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 7.273

more to come

Meanwhile, China's long-term yields hit record lows on expectations of further People's Bank of China easing ahead.

  • 30-year treasury yield hit a record low of 1.99%
  • 10-year government bond yield fell to 1.75%
  • A People's Bank of China official said on Saturday that China has room to further cut the reserve requirement ratio
This article was written by Eamonn Sheridan at www.forexlive.com.
 
Status
Not open for further replies.
Tips

Similar threads

Top Bottom