PBOC SETS USD/CNY REFERENCE RATE AT 7.1886, SIGNIFICANTLY STRONGER THAN EXPECTED
PBOC SETS USD/CNY REFERENCE RATE AT 7.1886, SIGNIFICANTLY STRONGER THAN EXPECTED USD/CNY reference rate set at 7.1886 Market Expectation: Estimated rate was 7.3159 Exchange System: Managed floating exchange rate with a +/- 2% band around the reference rate