Created
: 2025.07.22
- 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 7.1460 vs. 7.1522 previous
World FX news
Breaking news
PBOC sets USD/CNY reference rate at 7.1460 vs. 7.1522 previous
2025.07.22 10:30
2025.07.22 10:30
On Tuesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1460 as compared to Monday's fix of 7.1522.
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
: 2025.07.22
Related articles
EUR/JPY steady as markets eye Trump-Putin talks on Ukraine
2025.08.12 01:50Canadian Dollar backslides as Greenback bounces ahead of critical CPI inflation
2025.08.12 01:50Trump still angling to broker Russian ceasefire and cuts deals with chipmakers
2025.08.12 01:21GBP/USD retreats from two-week high as US Dollar firms ahead of inflation data
2025.08.12 00:01EUR/GBP steady around 0.8650 as traders eye key EU, UK data and Trump-Putin Talks
2025.08.11 23:54JPY loses net long positions - Rabobank
2025.08.11 23:38
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
EUR/JPY steady as markets eye Trump-Putin talks on Ukraine
The EUR/JPY pair is holding steady around 171.75 in Monday's session, with a slightly weaker Euro (EUR) against the Japanese Yen (JPY) reflecting a cautious market mood as attention shifts to geopolitics.
New
2025.08.12 01:50Canadian Dollar backslides as Greenback bounces ahead of critical CPI inflation
The Canadian Dollar (CAD) retreated on Monday, falling one-fifth of one percent against the US Dollar (USD) ahead of the latest US Consumer Price Index (CPI) inflation print on Tuesday.
New
2025.08.12 01:50Trump still angling to broker Russian ceasefire and cuts deals with chipmakers
United States (US) President Donald Trump hit the wires on Monday, announcing his intention to continue trying to broker a ceasefire between Russia and Ukraine in the coming days.
New
2025.08.12 01:21GBP/USD retreats from two-week high as US Dollar firms ahead of inflation data
The British Pound (GBP) edges lower against the US Dollar (USD) on Monday, snapping its recent advance as the Greenback firms ahead of the Greenback firms ahead of Tuesday's US Consumer Price Index (CPI) report.
New
2025.08.12 00:01EUR/GBP steady around 0.8650 as traders eye key EU, UK data and Trump-Putin Talks
The EUR/GBP remains virtually unchanged as Monday's North American session kicks in, exchanging hands at around 0.8650 as traders brace for the release of crucial economic data in Europe and in the United States (US).
New
2025.08.11 23:54JPY loses net long positions - Rabobank
US Dollar (USD) net short positions have increased for the second week in a row, driven by a decrease in long positions. Euro (EUR) net long positions have decreased for the third week in a row, driven by an increase in short positions.
New
2025.08.11 23:38WTI Crude Oil steadies after seven-day slide, markets eye US-Russia peace talks
West Texas Intermediate (WTI) Crude Oil attracts fresh buying interest on Monday, breaking a sharp seven-day losing streak that had dragged prices to their lowest level in two months.
New
2025.08.11 22:41Gold falls on optimism over Russia-Ukraine peace talks
Gold (XAU/USD) kicks off the week on the back foot, trading with a negative tone on Monday as diminished safe-haven demand and improved risk appetite weigh on the precious metal.
New
2025.08.11 21:12JPY steady in quiet trade - Scotiabank
The Japanese Yen (JPY) is entering Monday's NA session flat against the US Dollar (USD) as it consolidates just above the lower end of its recent narrow range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.08.11 20:43USD/CHF rallies beyond 0.8100 with all eyes on trade talks and US CP
The Swiss Franc is struggling on Monday amid a moderate risk appetite, while the US Dollar appreciates across the board amid hopes of a US-China trade deal and investors' reluctance of l¡placing large USD shorts ahead of Tuesday's US CPI release.In the absence of key fundamental releases on Monday,
New
2025.08.11 20:42Disclaimer:
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
