
Breaking News: PBOC Surprises Market with Lower USD/CNY Mid-Point at 7.1102, Defying Expectations of 7.2539 – Expert Analysis and Implications
The People’s Bank of China and the Yuan Exchange Rate Understanding the Onshore and Offshore Yuan The People’s Bank of China (PBOC) plays a crucial role in determining the exchange rate of the onshore yuan (CNY) through its daily reference rate. USD/CNY is the onshore yuan pair, which is allowed to fluctuate within a 2%…