PBOC Fixes USD/CNY Central Rate at 6.8088, Slightly Weaker Dollar
The People's Bank of China set the USD/CNY reference rate at 6.8088 on Monday, marginally lower than the previous fix of 6.8109, indicating a slight strengthening of the yuan.
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The People's Bank of China (PBOC) set the USD/CNY central parity rate at 6.8088 for Monday's trading session, down from Friday's fix of 6.8109. The adjustment reflects a modest shift in the yuan's valuation against the dollar.
The new rate came in slightly above market expectations, with Reuters reporting a prior estimate of 6.7544. The fix serves as a reference point for daily trading, allowing the yuan to fluctuate within a 2% band on either side.
Source: FXStreet Forex News