PBOC sets yuan reference rate at 6.3963

People’s Bank of China yuan mid point reference rate setting for today, little changed from yesterday

• Prior close 6.3938
• The bank allows USD/CNY to trade in a band +/- 2% either side of this mid point
• The rate is set each day

Last week the setting procedure was changed, the PBOC now pays more attention to market pricing on the USD/CNY when setting each day's rate. Their exact procedure is not known outside the bank, though.