Home PBOC sets yuan reference rate at 6.5249

PBOC sets yuan reference rate at 6.5249

Updated: 31 Dec. 2020 | 02:27

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.5249 versus the previous day’s level of 6.5325. Ahead of the release, Reuters expected 6.5228 level for today while Bloomberg eyed 6.5238 from its latest survey.

The Chinese central bank also infused 80 billion yuan via 7-day reverse repos (RRs) while adding 90 billion CNY as 10 billion expires today.

That said, USD/CNY stays on the back foot around 6.5230 during the early Thursday.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.