PBOC sets USD/CNY reference rate at 6.8147
The People’s Bank of China has set the USD/CNY central rate for the trading session ahead at 6.8147.
This rate is compared to the previous day’s fix of 6.8198.
The PBOC uses a range of monetary policy instruments to achieve its objectives, including the seven-day Reverse Repo Rate and foreign exchange interventions.
The Loan Prime Rate is China’s benchmark interest rate, influencing market loan and mortgage rates, as well as exchange rates of the Chinese Renminbi.