Created
: 2025.04.15
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
PBOC sets USD/CNY reference rate at 7.2096 vs. 7.2110 previous
World FX news
Breaking news
PBOC sets USD/CNY reference rate at 7.2096 vs. 7.2110 previous
New
2025.04.15 10:17
2025.04.15 10:17
2025.04.15 10:17
The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.2096 as compared to the previous day's fix of 7.2110 and 7.3094 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 a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China's benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China's central bank can also influence the exchange rates of the Chinese Renminbi.
Yes, China has 19 private banks - a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
Last updated
: 2025.04.15
Related articles
USD/JPY Price Forecast: Extends losing streak for third trading day
23 minutes agoUSD/JPY is under pressure from US/South Korea talks - OCBC
49 minutes agoAUD/USD edges lower despite strong Australia jobs report
51 minutes agoUSD/JPY: Expected to consolidate in a range of 144.50/148.50 - UOB Group
2025.05.15 19:24USD: Lots of mini Mar-a-Lago Accords? - Commerzbank
2025.05.15 19:19NZD/USD: No significant increase in momentum - UOB Group
2025.05.15 19:04
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
USD/JPY Price Forecast: Extends losing streak for third trading day
The USD/JPY pair extends its losing spree for the third trading day on Thursday.
New
2025.05.15 20:09USD/JPY is under pressure from US/South Korea talks - OCBC
USD/JPY continued to trade lower. Pair was last at 145.91 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.05.15 19:43AUD/USD edges lower despite strong Australia jobs report
The Australian Dollar (AUD) edges lower, retreating to near 0.6400 against the US Dollar (USD) at the time of writing on Thursday, erasing early Asian session gains following a stellar Australian jobs report.
New
2025.05.15 19:42USD/CNH: The support at 7.1700 is back in sight - UOB Group
Further sideways trading seems likely; firmer underlying tone suggests a higher range of 7.1950/7.2200. In the longer run, renewed downward momentum suggests 7.1700 is back in sight, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.05.15 19:38Gold: Continues to trade with heavy bias - OCBC
Gold has continued to trade with a heavy bias as tariff de-escalation momentum gained pace, while Fed cut expectations was scaled back in terms of the timing of next cut and quantum. Gold was last at 3174.52 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.05.15 19:34USD/JPY: Expected to consolidate in a range of 144.50/148.50 - UOB Group
USD is likely to trade in a sideways range of 145.70/147.50. In the longer run, upward momentum has dissipated; USD is expected to consolidate in a range of 144.50/148.50 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.05.15 19:24USD: Lots of mini Mar-a-Lago Accords? - Commerzbank
When news agencies yesterday announced that officials from the South Korean Ministry of Finance and the US Treasury Department had discussed exchange rates on the sidelines of a meeting in Milan, Korea's currency, the won, took a big leap. But it wasn't the only one.
New
2025.05.15 19:19Silver Price Forecast: XAG/USD finds temporary support below $32, outlook remains fragile
Silver price (XAG/USD) bounces back to near $32.00 during European trading hours on Thursday after sliding to near the monthly low around $31.65 earlier in the day. The outlook of the Silver price remains bearish as trade relations between the United States (US) and China have improved further.
New
2025.05.15 19:16NZD/USD: No significant increase in momentum - UOB Group
New Zealand Dollar (NZD) could decline vs US Dollar (USD), but as there is no significant increase in momentum, it is unlikely to be able to break clearly below 0.5860.
New
2025.05.15 19:04DXY: Markets are very sensitive to comments surrounding FX - OCBC
There was quite a bit of volatility in FX markets overnight, with USD declining at first, in response to the Bloomberg headline that US discussed FX with South Korea. DXY was last at 100.77 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.05.15 18:56Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
