PBOC sets the daily yuan reference rate at 6.8487, firmer than Wednesday’s 6.8562 fix, signaling modest currency support.
The People’s Bank of China set Thursday’s USD/CNY reference rate at 6.8487, up 75 pips from the previous session’s 6.8562 fix. The move marks a slight strengthening of the yuan against the dollar.
Wednesday’s fix stood at 6.8562, while the Reuters estimate was 6.8087. The PBOC’s daily rate serves as a midpoint for yuan trading, guiding the currency within a 2% band.
No immediate market reaction was reported following the announcement.