Tuesday 06 Jun 2023
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SHANGHAI (March 31): The People's Bank of China (PBOC) on Thursday set its official midpoint rate at 6.4612 per dollar prior to the market opening, its strongest fixing in 2016, after the greenback tumbled after the U.S. Federal Reserve's dovish comments on the U.S. economy and prospects of interest rate hikes.

The Chinese central bank's official guidance rate for the Chinese currency was set at its strongest level since mid-December, strengthening 0.35 percent from Wednesday's fixing of 6.4841, its biggest daily strengthening since March 18.


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