The People's Bank of China (PBOC) has set the USD/CNY reference rate at 7.0830 on October 15, 2024, marking a significant depreciation from the previous fix of 7.0723. This adjustment follows a series of rate fixes, with the PBOC previously establishing the reference rate at 7.0723 on October 14 and 7.0731 on October 11. The yuan's mid-point is now at its weakest level since September 19, reflecting ongoing pressures in the currency market. Analysts had anticipated a mid-point of 7.0840 for today, according to Reuters estimates. The yuan opened trading at 7.0888 against the dollar, compared to a last close of 7.0900. Additionally, the offshore yuan reached a low of 7.1070 per dollar, the weakest since September 19.