PBOC sets yuan reference rate at 6.5249

Anil Panchal FXStreet

The People's Bank of China (PBOC) has set the yuan reference rate at 6.5249 versus the previous day's level of 6.5325. Ahead of the release, Reuters expected 6.5228 level for today while Bloomberg eyed 6.5238 from its latest survey.

The Chinese central bank also infused 80 billion yuan via 7-day reverse repos (RRs) while adding 90 billion CNY as 10 billion expires today.

That said, USD/CNY stays on the back foot around 6.5230 during the early Thursday.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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