The People's Bank of China sets the exchange rate of the dollar at 7.1274 yuan.

On Friday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at 7.1274 yuan per dollar, while expectations indicated it would be set at 7.1267 yuan. The closing price of the pair in yesterday's session was 7.1235 yuan. Additionally, the bank injected 108 billion yuan into the markets through repurchase operations for 7 days, with a yield of 1.5%.

It is noteworthy that the People's Bank of China influences the price of the US dollar (USD) by pegging the value of its currency—the yuan—to the dollar. The bank employs a fixed exchange rate policy, which differs from the free exchange rate system used by the United States and many other countries, allowing for a narrow range of movement for China’s currency.

The People's Bank of China manages the value of the yuan by keeping it stable against a basket of currencies from countries that are considered China's trading partners, with the basket being measured in terms of the US dollar (USD) since the United States is China’s largest trading partner.