The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1910 on Monday, slightly below the previous rate of 7.1918. This move reflects continued efforts by Chinese authorities to maintain stability in the currency amid economic uncertainty and a strengthening U.S. dollar.
The slight adjustment indicates Beijing’s cautious approach to balancing domestic growth with external pressures, including rising U.S. Treasury yields and global risk sentiment. Market watchers interpret this as a signal of China’s focus on controlled currency management, underscoring its commitment to a steady economic environment.
