PBOC Sets New USD/CNY Reference Rate, Impact on Markets
The People’s Bank of China (PBOC) announced the central USD/CNY rate for April 8, 2025, at 7.2038, an increase from the previous day’s 7.1980. This adjustment highlights the ongoing challenges within the currency framework and the broader economic tensions at play, especially against the backdrop of rising tariffs.
Market experts underscore that the PBOC’s movements reflect the critical balance the Chinese central bank must maintain amid fluctuating global trade conditions. Investors should closely observe these rates and implications of further adjustments on both local and international exchanges.