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Chinese yuan hits strongest point against USD since November, set at 7.1161 by PBOC.
The People's Bank of China (PBOC) set the USD/CNY central rate at 7.1161, marking the strongest rate for the yuan since November last year.
The PBOC uses a managed floating exchange rate system to stabilize the currency, allowing it to fluctuate within a 2% band around a central midpoint.
The bank also employs various tools like reverse repos to manage liquidity.
Despite these measures, Reuters estimates the rate may be set slightly higher at 7.1551.
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El yuan chino alcanza su punto más fuerte frente al USD desde noviembre, fijado en 7.1161 por PBOC.