From Forexlive, it’s back on:
People’s Bank of China (PBOC) sets the USD/CNY mid-point reference rate at 6.4085
- The bank sets the mid-point each day (Monday to Friday) and then allows the rate to fluctuate +/-2% either side of this central point.
- USD/CNY moves outside the band are not permitted; the PBOC will intervene at the extremes to stop the rate moving any more than +/-2% on a day
- The USD/CNY is not a free floating exchange rate
Yesterday the rate was set at a 4-year central point low (for the yuan) of 6.4043
- Yesterday’s close was 6.4105
Down, down, currencies are down.