PBOC sets USD/CNY reference rate at 7.1688 vs. 7.1738 previous
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The People's Bank of China (PBOC) set the USD/CNY reference rate at 7.1688, lower than the previous rate of 7.1738 and the Reuters estimate of 7.2199.
March 18, 2025 | 11:30 am
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The PBOC set the USD/CNY reference rate at 7.1688, which is lower than both the previous rate and the Reuters estimate, indicating a potential strengthening of the Chinese Yuan.
The lower reference rate set by the PBOC suggests a potential strengthening of the Chinese Yuan against the US Dollar. This could impact forex markets and related financial instruments, as it indicates a shift in currency valuation expectations.
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