Mar 26, 01:50 AM

China's Yuan Rebounds as State-Owned Banks Sell Dollars, PBOC Signals Support with Strong Fixing

China's yuan rebounded after state-owned banks sold dollars onshore and there was tightness in offshore yuan liquidity. The People's Bank of China (PBOC) signaled support with a stronger-than-expected daily reference rate, leading to the biggest upward fixing since January.

#China #PBOC

Written with ChatGPT (GPT-3).

Sources

Caixin Global@caixin
1 year ago
China’s central bank reinforced its support for the under-pressure yuan by strengthening its daily reference rate for the managed currency by the most since January. https://t.co/KapX6lxbLB
Bloomberg@business
1 year ago
China’s central bank reinforced its support for the under-pressure yuan by raising its daily reference rate for the managed currency by the most since January https://t.co/pTRKcuDt33
CN Wire@Sino_Market
1 year ago
⚡PBOC raises the $CNY Central Parity Rate by 53 pips to 7.0943 per USD, over 1,000 pips stronger than market expectations. #China $USDCNY $USDCNH #CN_Note The biggest upward fixing since January 24. https://t.co/bgNUtSD6Te

China's Yuan Rebounds as State-Owned Banks Sell Dollars, PBOC Signals Support with Strong Fixing

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