The People's Bank of China decided on Tuesday morning to set the exchange rate of the yuan against the US dollar at 7.1697 yuan per dollar, while predictions indicated it would be set at 7.2538 yuan. The closing price of the pair yesterday was 7.2650 yuan. Additionally, the bank injected 489.2 billion yuan through repurchase operations in the markets for a period of 7 days, with a yield of 1.5%. It is noteworthy that the People's Bank of China influences the exchange rate of the US dollar (USD) by pegging the value of its currency - the yuan - to the USD. The bank employs a fixed exchange rate policy by managing the value of the yuan, keeping it stable against a basket of currencies from countries considered partners to China. The basket is measured against the USD since the United States is China's largest trading partner.
الأسواق المالية
مواضيع مرتبطة
التعليقات
