The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.
The previous close was 7.1836
- PBOC drains 122.5b yuan net in open market operations
The setting at 7.1345 is the strongest for CNY since November 6 last year.
