The People's Bank of China sets the daily reference rate for currency trading and manages the value of the Renminbi against the US Dollar.
5 reports, 4 independent
Updated Sep 1
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What happened
The People's Bank of China sets the daily reference rate for currency trading and manages the value of the Renminbi against the US Dollar.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.PBOC signals tolerance for stronger currency amid US dollar strength causing RMB weakness.1 source
PBOC manages CNY value against USD movements.1 source
Experts advise on policy mix causing China's surpluses while the government suppresses renminbi value.1 source
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The entities involved
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US Dollar (Next day)
Distinct currency with ISO 4217 code "USN", defined for trade purposes
- The Fed is monitoring inflation and market sentiment following the US-Iran deal.
- The Fed signals suggest that falling oil prices are reducing the likelihood of future rate hikes, causing the US Dollar to retreat against major international currencies amid concerns over unsustainable US government deficits.