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Central Banks

PBOC sets USD/ CNY central rate at 7.1025 (vs. estimate at 7.2404)

PBOC sets USD/ CNY central rate at 7.1025 (vs. estimate at 7.2404)

  • PBOC CNY reference rate setting for the trading session ahead.
Eamonn Sheridan
Eamonn Sheridan
Wednesday, 17/04/2024 | 01:15 GMT-0
17/04/2024 | 01:15 GMT-0
Central Banks

PBOC is expected to set the USD/CNY reference rate at 7.2404 – Reuters estimate

PBOC is expected to set the USD/CNY reference rate at 7.2404 – Reuters estimate

  • The rate the Bank sets will be around 1400 pips or so lower
Eamonn Sheridan
Eamonn Sheridan
Wednesday, 17/04/2024 | 00:30 GMT-0
17/04/2024 | 00:30 GMT-0
Central Banks

Chinese state banks are in the spot market seen selling dollars for CNY

Chinese state banks are in the spot market seen selling dollars for CNY

  • Intervention to prop up the yuan
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 01:58 GMT-0
16/04/2024 | 01:58 GMT-0
Central Banks

PBOC sets USD/ CNY mid-point today at 7.1028 (vs. estimate at 7.2475)

PBOC sets USD/ CNY mid-point today at 7.1028 (vs. estimate at 7.2475)

  • In setting the reference rate so far from where the market is trading the PBoC is trying to support the weak yuan
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 01:15 GMT-0
16/04/2024 | 01:15 GMT-0
Central Banks

PBOC is expected to set the USD/CNY reference rate at 7.2475 – Reuters estimate

PBOC is expected to set the USD/CNY reference rate at 7.2475 – Reuters estimate

  • The PBoC is consistently setting the rate much lower than this to support the yuan
Eamonn Sheridan
Eamonn Sheridan
Tuesday, 16/04/2024 | 00:21 GMT-0
16/04/2024 | 00:21 GMT-0
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