PBOC sets USD/CNY reference rate at 6.5786

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) sets the USD/CNY reference rate at 6.5786 vs. Thursday’s 6.5484.

The PBOC injected CNY80bn via seven-day reverse repos in open market operations (OMOS).

USD/CNY rallies

USD/CNY jumps to 6.5810, up 0.38% on a daily basis. The cross shrugs off the overnight losses in the US dollar across its main peers, as the risk sentiment somewhat improved on stimulus hopes.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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