PBOC SETS USD/CNY RATE AT 7.1881, ABOVE EXPECTATIONS
PBOC sets the USD/CNY reference rate at 7.1881 for today’s trading.
The market had expected the rate to be 7.3247.
The PBOC manages the yuan's value within a range of +/- 2% around the reference rate.
This reference rate is used to guide the yuan's value in the market.
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