Breaking News: PBOC to Set USD/CNY Reference Rate at 7.1080 – What Does This Mean for the Forex Market?
Chinese Yuan: Understanding the People’s Bank of China Reference Rate What is the People’s Bank of China? The People’s Bank of China (PBOC) is the central bank of China, responsible for regulating the country’s monetary policy and financial institutions. One of the key tasks of the PBOC is setting the daily midpoint of the yuan,…