On Friday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1889 as compared to the previous day's fix of 7.1881 and 7.3275 Reuters estimates.
On Friday, the People’s Bank of China set the USD/CNY central rate for the trading session ahead at 7.1889 as compared to the previous day's fix of 7.1881 and 7.3275 Reuters estimates.
Qs What does the People's Bank of China do? The primary monetary policy objectives of the People's Bank of China are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. Who owns the PBoC? The PBoC is owned by the state of the People's Republic of China , so it is not considered an autonomous institution.
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