
PBOC’s Daily Surprise: USD/CNY Reference Rate Set at 7.1174, Beating Estimated 7.1976 – What a Twist!
Understanding the People’s Bank of China’s Influence on Yuan Exchange Rates What is the People’s Bank of China? The People’s Bank of China (PBOC) is the central bank of the People’s Republic of China. It is responsible for setting monetary policy and regulating financial institutions in the country. One of its key functions is to…