PBOC SETS USD/CNY REFERENCE RATE AHEAD OF CHINA'S LUNAR NEW YEAR HOLIDAY
PBOC SETS USD/CNY REFERENCE RATE AHEAD OF CHINA'S LUNAR NEW YEAR HOLIDAY
PBOC sets USD/CNY reference rate at 7.1698, stronger than the estimated 7.2295.
China prepares for an extended Lunar New Year holiday, starting January 28 and lasting until February 4.
Businesses and government offices close, with a focus on family reunions and travel.
The PBOC has injected funds for 14 days instead of the usual 7, due to high demand for cash during the holiday period.
The holiday culminates in the Lantern Festival on February 12.
