The PBOC set the onshore yuan reference rate at 7.1135, its weakest level since January 19.
The People's Bank of China (PBOC) set the onshore yuan (CNY) reference rate at 7.1135, weaker than the previous day's 7.1106 and lower than the Reuters estimate of 7.2724. The permitted trading range for the CNY is plus or minus 2% from the daily reference rate. This weaker rate is considered a signal from the PBOC, with the previous close at 7.2480. The setting marks the weakest CNY since January 19 this year.
June 11, 2024
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