PBOC sets the USD/CNY daily fix 1 pip firmer than Wednesday’s level but above Reuters poll estimate of 6.7577.
The People’s Bank of China set Thursday’s USD/CNY central parity rate at 6.7909, a 1-pip strengthening from Wednesday’s 6.7910 fix. The move came in above the Reuters survey median forecast of 6.7577.
The PBOC’s daily reference rate serves as the midpoint for onshore yuan trading, allowing the currency to fluctuate 2% in either direction. Recent fixes have remained stable, reflecting efforts to balance exchange-rate stability with broader monetary policy objectives.
No immediate market reaction was reported following the announcement.