The People's Bank of China sets the exchange rate of the dollar at 7.1935 yuan.

The People's Bank of China decided on Wednesday morning to set the exchange rate of the yuan against the US dollar at 7.1935 yuan per dollar, while expectations indicated it would be set at 7.2386 yuan. The closing price of the pair in yesterday's session was 7.2395 yuan. The bank also injected 69 billion yuan through repurchase operations in the markets for 7 days, with a yield of 1.5%.

It is worth noting that the People's Bank of China influences the price of the US dollar by pegging the value of its currency - the yuan - to the US dollar, as the bank uses a fixed exchange rate policy, which differs from the free-floating exchange rate used by the United States and many other countries, while allowing a narrow fluctuation range 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 partners of China, and the basket is measured against the US dollar since the United States is China's largest trading partner.