Breaking News: PBOC Sets USD/CNY Reference Rate for Today at 70770, Surprising Experts at 70971 – What Does This Mean for the Forex Market?
Understanding the Onshore and Offshore Yuan Exchange Rates What is the People’s Bank of China (PBOC) up to? The People’s Bank of China sets the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan, and it is permitted to trade plus or minus 2% from this daily reference rate….