PBOC sets USD/ CNY reference rate for today at 6.5454 (vs. yesterday at 6.5578)

The People’s Bank of China sets the onshore yuan (CNY) middle-rate for the trading session ahead.

    • USD/CNY is 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.

 

  • The previous close was 6.5475
  • Reuters estimate from their survey was 6.5460, Bloomberg 6.5466 …. (A rate that’s significantly stronger or weaker than expected is typically considered a signal from the PBOC)