PBOC SETS USD/CNY REFERENCE RATE AT 7.2066 VS. 7.2038 PREVIOUS
PBOC SETS USD/CNY REFERENCE RATE AT 7.2066 VS. 7.2038 PREVIOUS
On April 9, 2025, the People's Bank of China (PBOC) established the USD/CNY reference rate at 7.2066 per dollar, slightly above the previous day's rate of 7.2038.
This marginal adjustment occurs amid ongoing global trade tensions, particularly between the U.S. and China, which have contributed to fluctuations in the yuan's value.
The PBOC's setting of the reference rate reflects a measured approach to currency management, aiming to balance export competitiveness with financial stability.
The slight depreciation indicated by the reference rate may serve to support Chinese exports by making them more price-competitive internationally.
