PBOC Sets Lower USD/CNY Reference Rate at 6.7878
The People's Bank of China set the USD/CNY reference rate at 6.7878, slightly lower than the previous day's fix of 6.7888.
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The People's Bank of China fixed the yuan's daily reference rate against the dollar at 6.7878 on Friday. That compares with 6.7888 in the previous session.
The slightly lower fixing implies a marginally stronger yuan midpoint versus the dollar. Traders monitor the PBOC fix as a guide to official policy intentions for the currency pair.
Source: FXStreet Forex News