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      People's Bank of China Sets Yuan Reference Rate at 6.7399 Against US Dollar

      The People's Bank of China (PBOC) has established the USD/CNY reference rate at 6.7399 for today, which is higher than the market estimate of 6.7085. This marks the first trading day after a three-day weekend in China.

      The PBOC permits the yuan to fluctuate within a range of plus or minus 2% around the reference rate, allowing for some flexibility in the currency's value against the US dollar. This mechanism is part of China's broader strategy to manage its currency in response to market conditions.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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