Created
: 2025.07.16
- 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 7.1526 vs. 7.1498 previous
World FX news
Breaking news
PBOC sets USD/CNY reference rate at 7.1526 vs. 7.1498 previous
New
2025.07.16 10:16
2025.07.16 10:16
2025.07.16 10:16
On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1526 as compared to the previous day's fix of 7.1498 and 7.1914 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
: 2025.07.16
Related articles
AUD/USD: Chance for AUD to test 0.6500 - UOB Group
2 minutes agoSticky CPI limits BoC cuts, supports CAD - BBH
12 minutes agoGBP/USD: Any decline is likely part of a lower range of 1.3360/1.3445 - UOB Group
19 minutes agoHot UK CPI lifts GBP, but risks loom - BBH
24 minutes agoEUR/USD: Likely to consolidate in a range of 1.1580/1.1650 - UOB Group
37 minutes agoAUD/USD gives back major early gains ahead of Aussie Employment data
41 minutes ago
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: Chance for AUD to test 0.6500 - UOB Group
Sharp drop in Australian Dollar (AUD) looks overstretched against US Dollar (USD), but there is a chance for AUD to test 0.6500; the major support at 0.6480 is unlikely to come into view.
New
2025.07.16 19:35Sticky CPI limits BoC cuts, supports CAD - BBH
USD/CAD is trading around the middle of multi-week 1.3550-1.3800 range, BBH FX analysts report.
New
2025.07.16 19:26GBP/USD: Any decline is likely part of a lower range of 1.3360/1.3445 - UOB Group
There is room for Pound Sterling (GBP) to weaken further against US Dollar (USD); any decline is likely part of a lower range of 1.3360/1.3445.
New
2025.07.16 19:18WTI Oil dips further, approaching $65.00 on renewed fears about demand
Crude Oil Prices are trading lower for the third consecutive day on Wednesday as trade uncertainty, an unexpected increase in US stockpiles and the dwindling hopes of Fed cuts, following Tuesday's US CPI data, have revived concerns about demand.The price of the US benchmark West Texas Intermediate (
New
2025.07.16 19:17Hot UK CPI lifts GBP, but risks loom - BBH
Pound Sterling (GBP) had a kneejerk uptick after the hot UK June CPI print reduced the likelihood of a more dovish BOE policy stance, BBH FX analysts report.
New
2025.07.16 19:13EUR/USD: Likely to consolidate in a range of 1.1580/1.1650 - UOB Group
Sharp drop appears overdone; instead of weakening further, Euro (EUR) is more likely to consolidate in a range of 1.1580/1.1650 against US Dollar (USD).
New
2025.07.16 19:00AUD/USD gives back major early gains ahead of Aussie Employment data
The AUD/USD pair surrenders a majority of its initial gains during the European session on Wednesday. Still, the Aussie pair trades 0.10% higher to near 0.6540. The pair snaps three-day losing streak as the US Dollar (USD) struggles to extend its upside after refreshing three-week high on Tuesday.
New
2025.07.16 18:56USD/JPY: Near term election risks - OCBC
USD/JPY continued to trade higher, driven by higher UST yields (due to US CPI report) and Upper House election uncertainty. USD/JPY was last at 148.68 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.07.16 18:55USD: Inflation reality can have lasting effect - ING
The US Dollar (USD) had the best day in a month yesterday, hitting a three-week high after the US CPI release.
New
2025.07.16 18:48DXY: PPI in focus - OCBC
US Dollar (USD) extended its bullish run higher, with JPY, EUR, CHF and PHP the main underperformers. DXY was last at 98.55 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.07.16 18:42Disclaimer:
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
