PBOC Sets Stronger-Than-Expected Yuan Fixing After Recent Fall
- Authorities keen to keep yuan stable after recent drop: ANZ
- Yuan fell more than 4% in April, its worst month on record
The People's Bank of China (PBOC) headquarters building in Beijing.
Photographer: Yan Cong/BloombergThis article is for subscribers only.
China set its reference rate for the yuan at a stronger-than-expected level for a third consecutive day, as it sought to keep the currency stable following a record drop last month.
The People’s Bank of China set the fixing at 6.5672 per dollar, compared with the average estimate of 6.5699 in a Bloomberg survey of analysts and traders. China’s financial markets reopened Thursday after a three-day break. The onshore yuan edged higher to 6.6045 per dollar, while the offshore yuan is little changed at 6.6248.