The post PBOC sets USD/CNY reference rate at 7.1089 vs. 7.1152 previous appeared on BitcoinEthereumNews.com. The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Monday at 7.1089 compared to the previous day’s fix of 7.1152. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi. Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector. Source: https://www.fxstreet.com/news/pboc-sets-usd-cny-reference-rate-at-71089-vs-71152-previous-202509290119The post PBOC sets USD/CNY reference rate at 7.1089 vs. 7.1152 previous appeared on BitcoinEthereumNews.com. The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Monday at 7.1089 compared to the previous day’s fix of 7.1152. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi. Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector. Source: https://www.fxstreet.com/news/pboc-sets-usd-cny-reference-rate-at-71089-vs-71152-previous-202509290119

PBOC sets USD/CNY reference rate at 7.1089 vs. 7.1152 previous

2025/09/30 03:40

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Monday at 7.1089 compared to the previous day’s fix of 7.1152.

PBOC FAQs

The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market.

The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts.

Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi.

Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.

Source: https://www.fxstreet.com/news/pboc-sets-usd-cny-reference-rate-at-71089-vs-71152-previous-202509290119

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Grayscale debuts first Ethereum and Solana ETFs offering staking rewards

Grayscale debuts first Ethereum and Solana ETFs offering staking rewards

The post Grayscale debuts first Ethereum and Solana ETFs offering staking rewards appeared on BitcoinEthereumNews.com. Key Takeaways Grayscale launched the first US-listed spot ETFs for Ethereum and Solana that offer staking rewards. Investors can earn staking rewards on ETH and SOL through Grayscale’s institutional custodians and validator partners. Grayscale Investments announced Monday that its Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) have become the first US-listed spot crypto ETPs to enable staking. The firm simultaneously activated staking for its Solana Trust (GSOL), listed on OTCQX. The staking feature allows investors to gain exposure to the Ethereum and Solana networks while maintaining the funds’ primary objectives of providing spot crypto exposure. Grayscale will implement passive staking through institutional custodians and diverse validator providers to help secure the underlying protocols. Grayscale CEO Peter Mintzberg said the firm’s latest staking rollout for Ethereum and Solana funds shows its focus on staying ahead of the market. He added that Grayscale’s size and track record give it the tools to translate staking opportunities into long-term value for investors. Grayscale, which manages approximately $35 billion in assets, plans to expand staking to additional products while focusing on education and transparent reporting. The company recently published an educational report titled “Staking 101: Secure the Blockchain, Earn Rewards” to explain the mechanics and benefits of staking to investors. Launched as a spot crypto ETF last July, the ETHE fund had over 1 million ETH as of October 3. It ranks as the second-largest spot Ether ETF in the US behind BlackRock’s iShares Ethereum Trust. Source: https://cryptobriefing.com/ethereum-solana-staking-etf-launch/
Share
BitcoinEthereumNews2025/10/06 19:42
Share
Coinbase’s XRP Holdings Collapse by $2.8 Billion in 3 Months

Coinbase’s XRP Holdings Collapse by $2.8 Billion in 3 Months

The post Coinbase’s XRP Holdings Collapse by $2.8 Billion in 3 Months appeared on BitcoinEthereumNews.com. Coinbase’s presence in XRP has almost disappeared. At the start of summer, the exchange held around 970 million XRP across 52 cold wallets. Ten of these wallets held approximately 26.8 million coins each, while the remaining wallets held a further 16.8 million.  Three months later, only four of those wallets are still active, each holding around 16.4 million XRP, according to XRPWallets. This equates to approximately 65.6 million XRP remaining — less than 7% of the total held in June. I’ve been watching a few of them like these. New subwallets then more is added. I was hoping to see where they go to from here after ETF for example. Just odd they would drain all their Cold wallets to new wallets unless there’s a use planned for them.https://t.co/mAYrnAdrpc — XRP_Liquidity (Larsen/Britto/Escrow/ODL/RLUSD) (@XRPwallets) September 18, 2025 More than 900 million XRP have moved out of Coinbase’s active storage in under 90 days, worth close to $2.8 billion at its current price.  Just this past weekend, a transfer of 16.5 million XRP — equivalent to $51.4 million — passed through the exchange, demonstrating that large transactions are ongoing even as the old wallets continue to empty. What’s behind Coinbase’s XRP shuffle? Overall, 48 of Coinbase’s 52 tracked wallets are now inactive. On-chain observers point out that this does not necessarily mean that the coins are leaving the platform completely. They could just as easily be transferred into new wallets that have not been identified yet as part of regular custody restructuring.  However, given the size of these transactions, some are wondering if institutions are absorbing the coins. One theory is that large players — possibly even companies such as BlackRock — could be using Coinbase’s infrastructure to build positions for clients without leaving a public trail. Whatever the case may be, the numbers…
Share
BitcoinEthereumNews2025/09/19 13:14
Share