A post by @FirstSquawk on X.
CHINA'S PBOC SETS DAILY YUAN FIXING AT 6.7180 AGAINST THE DOLLAR
@FirstSquawk on X
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China’s central bank set the daily yuan reference rate at 6.7180 per dollar, the fixing that anchors onshore trading and the currency’s permitted 2% trading band. The PBOC fixing is closely watched as a signal of policy stance, with the spread between the official rate and market estimates indicating how tightly Beijing is managing the currency. The yuan’s level matters for Chinese exporters, capital flows and regional currencies, and for global investors gauging the pace of easing in Beijing’s monetary policy. Traders will watch the gap between the fixing and Reuters’ estimate, offshore yuan trading and subsequent PBOC liquidity operations for signs of whether the authorities are leaning toward stability or allowing gradual depreciation.
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Named in this story
People's Bank of China, Chinese yuan, US dollar