PBOC sets yuan reference rate at 6.5325

Anil Panchal FXStreet

The People's Bank of China (PBOC) has set the yuan reference rate at 6.5325 versus the previous day's level of 6.5451. Ahead of the release, Reuters expected 6.5360 level for today while Bloomberg eyed 6.5306 from its latest survey.

The Chinese central bank also infused 30 billion yuan via 7-day reverse repos (RRs) while adding 40 billion CNY as 10 billion expires today.

That said, USD/CNY is currently taking the bids near 6.5320 during the early Wednesday.

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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