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      People’s Bank of China Sets Yuan Reference Rate

      The People’s Bank of China (PBOC) has established the yuan's reference rate at 6.6977 against the US dollar, allowing for fluctuations within a +/- 2% range around this rate. This measure is part of the central bank's ongoing efforts to manage the currency's value in the foreign exchange market.

      In addition to setting the reference rate, the PBOC has injected 50 billion yuan into the financial system through 7-day reverse repurchase agreements, maintaining the interest rate at 1.4%. This move is aimed at providing liquidity to the market amid ongoing economic adjustments.

      © 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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