PBOC sets daily USD/CNY reference rate at 6.7928
The People’s Bank of China has set the USD/CNY central rate for the trading session ahead at 6.7928.
This rate is compared to the previous day’s fix of 6.7911.
The PBOC’s primary monetary policy objectives are to safeguard price stability and promote economic growth.
The central bank uses a range of monetary policy instruments, including the seven-day Reverse Repo Rate and the Loan Prime Rate, to achieve its objectives.