PBOC Fixes USD/CNY at 6.7909, Slightly Lower Than Previous

The People's Bank of China (PBOC) set the USD/CNY reference rate at 6.7909 for Thursday's trading session. This compares with the previous day's fix of 6.7910 and is also lower than the Reuters estimate of 6.7577.

The central parity rate serves as a daily guidance for the onshore yuan, allowing the currency to fluctuate within a 2% band on either side. The slight downward adjustment indicates continued stability in the PBOC's management of the yuan.