# PBOC sets USD/ CNY central rate at 7.1132 (vs. estimate at 7.1432)

> The PBOC set the onshore yuan reference rate at 7.1132 per dollar on November 28, well below the Reuters estimate of 7.1432. The fix was the strongest for the onshore yuan since June 9. The bank also continued liquidity injections through open market operations.

- Date: 2023-11-28 · published 2023-11-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/33392-pboc-sets-usd-cny-central-rate-at-7-1132-vs-estimate-at-7-1432
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A strong official fix signals that Beijing is leaning against yuan weakness, which supports Chinese import buying power. The impact on feed prices is indirect and modest.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-09-04 | [PBOC Sets Central Parity Rate of Yuan Against Dollar at 6.5668](https://feedsoft.ai/events/9416-pboc-sets-central-parity-rate-of-yuan-against-dollar-at-6-5668.md) | -0.5% | +1.5% |
| USDCNY | 2024-09-25 | [CNY USD: Yuan Rallies Past 7 Per Dollar After China Stimulus Measures - Bloomberg](https://feedsoft.ai/events/28551-cny-usd-yuan-rallies-past-7-per-dollar-after-china-stimulus-measures-bloomberg.md) | -0.2% | +1.3% |
| USDCNY | 2024-06-21 | [USD/CNY: PBOC Gives Strongest Boost to Yuan Since April to Manage Decline - Bloomberg](https://feedsoft.ai/events/30005-usd-cny-pboc-gives-strongest-boost-to-yuan-since-april-to-manage-decline.md) | +0.1% | +0.1% |
| USDCNY | 2019-10-29 | [PBOC set the onshore yuan at its strongest in 2 months](https://feedsoft.ai/events/56809-pboc-set-the-onshore-yuan-at-its-strongest-in-2-months.md) | -0.5% | -0.5% |
| USDCNY | 2017-06-02 | [Surprise RMB strengthening prompts unwinds - Central Banking](https://feedsoft.ai/events/5667-surprise-rmb-strengthening-prompts-unwinds-central-banking.md) | -0.1% | -0.3% |

## Sources

- investinglive.com: https://investinglive.com/centralbank/pboc-sets-usd-cny-central-rate-at-71132-vs-estimate-at-71432-20231128/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.