PBOC sets USD/CNY reference rate at 6.8167 vs. 6.8176 previous
The post PBOC sets USD/CNY reference rate at 6.8167 vs. 6.8176 previous appeared on BitcoinEthereumNews.com. On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8167 compared to Friday’s fix of 6.8176 and 6.7643 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. Unlike the Western economies, the PBoC uses