People’s Bank of China sets USD/CNY benchmark rate for today at 7.0979 (vs. estimate of 7.2478)

The People’s Bank of China has set the onshore yuan (CNY) reference rate for the upcoming trading session.

• USD/CNY is the national yuan. It is permitted to trade at plus or minus 2% of this daily reference rate.
• CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
• A rate that is significantly stronger or weaker than expected is generally considered a signal from the PBOC.

more soon

Previous close was 7.2372

This article was written by Eamonn Sheridan at www.forexlive.com.

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