PBOC SETS USD/CNY MID-POINT AT 7.1887, ABOVE ESTIMATE OF 7.3435
The People's Bank of China (PBOC) sets the daily USD/CNY midpoint at 7.1887.
The set midpoint is stronger than the market estimate of 7.3435.
The PBOC follows a managed floating exchange rate system, allowing the yuan to fluctuate within a 2% range around the midpoint.
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