Central Banks
Join
CNY

PBOC reference rate for today is the weakest for CNY since December 1 2022

Eamonn Sheridan
24/05/2023 | 01:29 GMT

The People's Bank of China mid rate for onshore yuan today:

  • PBOC sets USD/ CNY mid-point today at 7.0560 (vs. estimate at 7.0566)

Offshore yuan is weakening further, USD/CNH is above 7.08 for the first time since December ;last year also:

usdcnh 24 May 2023 weak

Yesterday I posted on the Global Times looking for any excuse except the faltering Chinese economic recovery:

  • Chinese tabloid says there is no basis for long-term yuan depreciation

The People's Bank of China are probably having a giggle at those clowns today.

Tags

  • CNY
  • pboc
  • CNH
  • Follow pboc
  • Save

Most Popular

  • Fed vice chair for supervision is worried that Trump will try to remove him - report
  • Bitcoin Price Prediction by AI
  • Slovak PM Fico said Putin confirmed readiness to continue supplying gas to the West
  • Atlanta Fed GDPNow Q4 growth estimate remains at 3.1%
  • HSBC still sees Fed rate cuts ahead, another 75bp next year. Higher stocks & USD also.
  • Honda and Nissan are set to announce launch of integration talks
  • UBS says the USD value is 'stretched', sell further strength and get into GBP and AUD

Follow Us

Subscribe to Forexlive's Daily News Wrap

Read our Terms, Cookies and Privacy Notice

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an "as-is" basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.