PBOC sets USD/CNY reference rate at 6.3746 By anilpanchal7 PBOC USDCNY CentralBanks
The People’s Bank of China set the USD/CNY reference rate at on Friday 6.3746 when compared to the previous fix and the previous close at 6.3382 and 6.3688. respectively.
The PBOC recently cut reverse repo rate by a 10 basis points and has been trying to defend the Chinese yuan bears with heavy liquidity injection. However, the Chinese central bank seems to have gained little success so far, except for the latest bounce, even as theInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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