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The estimate for the USD/CNY reference rate setting from the PBOC today is above 6.92

Started by forex4you, Sep 02, 2022, 07:13 am

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The estimate for the USD/CNY reference rate setting from the PBOC today is above 6.92

<p>6.92020 is the estimate according to Reuters.</p><p>All week the actual rate has been set well below the estimate as the People's Bank of China tries to battle yuan weakness (a key fear is capital flight from China is the yuan drops too hard and fast). </p><p>I've been posting on the battle all week. This is the latest from yesterday. Check it out ICYMI, saves me repeating myself!</p><ul><li><a href="https://www.forexlive.com/centralbank/yuan-rate-setting-coming-soon-eyes-on-the-pboc-holding-the-line-on-the-cny-20220831/" target="_blank" data-article-link="true">Yuan rate setting coming soon - eyes on the PBOC holding the line on the CNY</a></li><li> there is chatter about the place that the Bank is using an adjusted fix mechanism.</li></ul><p>---</p><p>The rate is set at 0115 GMT. </p><p>---</p><p>USD/CNH update (CNH is the offshore yuan):</p>

This article was written by Eamonn Sheridan at www.forexlive.com.

Source: The estimate for the USD/CNY reference rate setting from the PBOC today is above 6.92

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