PBOC sets USD/ CNY reference rate for today at 7.1798 ...Middle East

The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. This article was written by Greg Michalowski at www.forexlive.com.

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