The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1934, marginally lower than the previous rate of 7.1935. This minor adjustment reflects the central bank’s cautious approach to managing currency stability amid global economic uncertainties.
The marginal shift in the reference rate comes as China continues to balance internal economic pressures with external challenges, including slowing exports and fluctuating foreign exchange markets. The PBOC’s move signals a steady commitment to keeping the yuan stable while providing room for market-driven adjustments.
