Created
: 2025.07.04
- 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 7.1535 vs. 7.1523 previous
World FX news
Breaking news
PBOC sets USD/CNY reference rate at 7.1535 vs. 7.1523 previous
New
2025.07.04 10:16
2025.07.04 10:16
2025.07.04 10:16
The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1535 as compared to the previous day's fix of 7.1523 and 7.1688 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
: 2025.07.04
Related articles
AUD/USD drifts to 0.6550 as concerns about US tariffs resurface
21 minutes agoGBP/JPY pulls back to levels near 197.00 as market sentiment sours
2025.07.04 16:57EUR/GBP rises above 0.8600 following hawkish comments from ECB's Lagarde
2025.07.04 16:56EUR/USD bounces up as focus shifts to tariffs, US fiscal health
2025.07.04 16:47Pound Sterling stabilizes as UK Chancellor Reeves confirms to remain in the role
2025.07.04 16:33WTI wobbles around $66 as Trump's tariff deadline looms large
2025.07.04 16:30
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
AUD/USD drifts to 0.6550 as concerns about US tariffs resurface
The Australian Dollar is trading lower for the second day in a row, retreating from year-to-date highs, at 0.6590, with risk-sensitive assets weighed by growing tariff uncertainty as the July 9 deadline comes closer.US President Donald Trump affirmed on Thursday that he will start sending letters to
New
2025.07.04 17:37GBP/JPY pulls back to levels near 197.00 as market sentiment sours
The Yen rallies across the board as fears about US tariffs return.Trump will start sending letters to trade partners informing them about tariffs.BoJ-BoE monetary policy divergence is adding pressure on the British Pound.
New
2025.07.04 16:57EUR/GBP rises above 0.8600 following hawkish comments from ECB's Lagarde
EUR/GBP inches higher after registering 0.50% losses in the previous session, trading around 0.8610 during the early European hours on Friday.
New
2025.07.04 16:56EUR/USD bounces up as focus shifts to tariffs, US fiscal health
The EUR/USD pair is trimming some losses on Friday, trading at 1.1785 at the time of writing, after bouncing from lows of 1.1715 on Thursday.
New
2025.07.04 16:47Pound Sterling stabilizes as UK Chancellor Reeves confirms to remain in the role
The Pound Sterling (GBP) trades broadly stable against its peers on Friday, following commitment from the United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves to remain in her role till the next elections.
New
2025.07.04 16:33WTI wobbles around $66 as Trump's tariff deadline looms large
West Texas Intermediate (WTI), futures on NYMEX, trades cautiously near $66.00 during the European trading session on Friday.
New
2025.07.04 16:30NZD/USD trades with positive bias near 0.6075-0.6080 area amid modest USD downtick
The NZD/USD pair builds on the overnight bounce from the 0.6030 region, or the weekly trough, and gains some follow-through positive traction on Friday.
New
2025.07.04 16:04Forex Today: US Dollar retreats after NFP-inspired rally
Here is what you need to know on Friday, July 4:
New
2025.07.04 16:00USD/CHF falls below 0.7950 as expectations for further rate cuts by SNB diminish
USD/CHF loses ground after registering gains in the previous two sessions, trading around 0.7930 during the Asian hours on Friday.
New
2025.07.04 15:55German Factory Orders fall 1.4% MoM in May vs. -0.1% expected
Germany's Factory Orders dropped more-than-expected in May, suggesting that the country's manufacturing sector recovery lost momentum, according to the official data published by the Federal Statistics Office on Friday.
New
2025.07.04 15:10Disclaimer:
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
