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“Breaking News: PBOC Sets New USD/CNY Reference Rate, Surprising Markets with 0.02% Increase”
Understanding the USD/CNY Central Rate Set by PBOC What is the USD/CNY Central Rate? The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1708. This rate is compared to the previous day’s fix of 7.1696 and 7.2896 according to Reuters estimates. The USD/CNY central rate…