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PBOC sets USD/CNY central rate at 6.7489

The PBOC’s reference rate is above the prior 6.7468 fix and also higher than a Reuters-estimated 6.7184.

Reported · Written up by our desk · Major Pairs

The People’s Bank of China set the USD/CNY central rate for Thursday’s trading session at 6.7489, compared with the previous day’s fix of 6.7468.

FXStreet said the central rate was also above a Reuters estimate of 6.7184.

The PBOC said its primary monetary policy goals include safeguarding price stability through exchange rate stability, while also promoting economic growth and supporting financial reforms.

The central bank is state-owned and not considered autonomous, with the Chinese Communist Party playing a key role in management direction, while policy tools include instruments such as reverse repos and medium-term lending, along with foreign exchange interventions.

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