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: 2025.06.09
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PBOC sets USD/CNY reference rate at 7.1855 vs. 7.1845 previous
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PBOC sets USD/CNY reference rate at 7.1855 vs. 7.1845 previous
New
2025.06.09 10:16
2025.06.09 10:16
2025.06.09 10:16
On Monday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1855 as compared to Friday's fix of 7.1845.
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
: 2025.06.09
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USD/INR trades cautiously ahead of US-China trade talks
The Indian Rupee ticks up against the US Dollar (USD) to near 85.70 during the Asian session on Monday. The pair edges lower as the US Dollar starts the week on a frail note, with investors focusing on trade negotiations between the United States (US) and China in London later in the day.
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2025.06.09 13:35India Gold price today: Gold steadies, according to FXStreet data
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2025.06.09 13:35Silver Price Forecast: XAG/USD rises above $36.00 on economic uncertainty, industrial demand
The Silver (XAG/USD) price trades in positive territory around $36.00 during the Asian session on Monday. The white metal edges higher despite the stronger-than-expected US employment data for May. Later on Monday, investors will closely watch the developments surrounding US-China trade talks.
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2025.06.09 13:15US Dollar Index Price Forecast: Trades around 99.00 after pulling back from nine-day EMA
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent gains from the previous session and trading around 99.00 during the Asian hours on Monday.
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2025.06.09 13:10WTI retreats from multi-week top, slides to $63.80-$63.75 ahead of US-China trade talks
West Texas Intermediate (WTI) US Crude Oil prices kick off the new week on a softer note and erode a part of Friday's strong gains to levels just above the $64.00 mark, or the highest since April 23.
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2025.06.09 12:23USD/CAD remains below 1.3700 due to US Dollar pullback, US-China discussion awaited
USD/CAD retraces its gains from the previous session, trading around 1.3680 during the Asian hours on Monday. The pair edges lower as the US Dollar (USD) corrects downward after registering approximately 0.50% gains on Friday following United States (US) jobs data for May.
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2025.06.09 12:19China's Trade Balance: Surplus widens in May as Imports shrink
China's Trade Balance for May, in Chinese Yuan (CNY) terms, arrived at CNY743.56 billion, expanding from the previous figure of CNY689.99 billion.
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2025.06.09 12:08Japanese Yen strengthens in reaction to upward revision of Japan's Q1 GDP print
The Japanese Yen (JPY) edges higher at the start of a new week in reaction to an upward revision of Japan's Q1 GDP print.
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2025.06.09 12:02Australian Dollar remains stronger following China's economic data
The Australian Dollar (AUD) edges higher against the US Dollar on Monday, recovering its losses from the previous session. The AUD/USD pair remains stronger following the release of China's key economic data.
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2025.06.09 11:31NZD/USD holds positive ground, China CPI falls in May
The NZD/USD pair attracts some buyers to around 0.6035 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) strengthens against the Greenback after the Chinese inflation data. Traders will closely monitor trade talks between the US and China later on Monday.
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2025.06.09 11:17Disclaimer:
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