PBOC sets USD/ CNY reference rate for today at 6.9438 (vs. yesterday at 6.9752)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China sets onshore yuan at its strongest since March 10

The yuan is pegged to a basket of currencies

  • With a large $ component
  • As the USD falls yuan is simultaneously rising vs the dollar but falling against the rest 

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