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PBOC sets yuan reference rate at 6.7811 for Aug. 28

The PBOC fixed the USD/CNY midpoint at 6.7811, above the estimate of 6.7208 cited by the market.

Reported · Written up by our desk · Major Pairs

The People’s Bank of China set the USD/CNY reference rate for August 28 at 6.7811, according to a market update compiled by Forexlive.

The reference level was higher than the estimate of 6.7208 provided in the same update, signaling a tighter midpoint for the yuan versus the expected setting.

In Japan, Tokyo’s core consumer price index rose 1.8% year on year in August, beating forecasts of 1.7% and moving closer to the Bank of Japan’s target, the update said.

Elsewhere in markets, Forexlive also noted that U.S. Central Command said American forces cleared sea mines from the Strait of Hormuz’s international shipping lanes, though some mines may still remain, a development that coincided with modest moves in oil prices.

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