PBOC sets USD/CNY central rate at 6.8187

Created at 1 Jun · 01:31 UTC7 sources↑ Market-relevant3 events

IN SHORT

The People's Bank of China (PBOC) set the USD/CNY central parity rate at 6.8187, which was weaker than the estimated 6.7720. The PBOC also injected 11 billion yuan via 7-day reverse repos at an unchanged rate of 1.4%.

Key Numbers

6.8187PBOC USD/CNY reference rate

6.7720Estimated USD/CNY reference rate

11 billion yuanPBOC injection via reverse repos

1.4%7-day reverse repo rate

200 million yuan7-day reverse repo bid and allotment

Who's Involved

PBOC

People's Bank of China, setting reference rates and conducting open market operations

Key facts

PBOC set USD/CNY reference rate at 6.8187.
Estimated reference rate was 6.7720.
PBOC injected 11 billion yuan via 7-day reverse repos.
The rate for reverse repos remained unchanged at 1.4%.

The daily reference rate set by the People's Bank of China (PBOC) for the yuan against the US dollar provides a central point around which the currency is allowed to trade. A weaker-than-expected reference rate can signal a more cautious or supportive stance from the central bank towards the currency's depreciation, potentially impacting global trade and investment flows.

↳ Why This Matters

FREQUENTLY ASKED

The PBOC sets a daily reference rate for the yuan against the US dollar, which serves as a central point for the currency's trading band.

The PBOC allows the yuan to fluctuate within a 2% range around the daily reference rate.

The PBOC injected 11 billion yuan into the financial system through 7-day reverse repurchase agreements.

Key facts

PBOC set USD/CNY reference rate at 6.8187.

Estimated reference rate was 6.7720.

PBOC injected 11 billion yuan via 7-day reverse repos.

The rate for reverse repos remained unchanged at 1.4%.

PBOC sets USD/CNY central rate at 6.8187

PiQ Daily

Key facts

PBOC sets USD/CNY central rate at 6.8187

PiQ Daily

Key facts

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