The People's Bank of China sets the exchange rate of the dollar at 7.1942 yuan.

On Friday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at 7.1942 yuan per dollar. Predictions had indicated a rate of 7.2502 yuan, and the closing price for the pair in yesterday's session was 7.2418 yuan. The bank also injected 635 billion yuan into the markets through repurchase operations for 7 days, with a yield of 1.5%.

It is worth noting that the People's Bank of China influences the exchange rate of the US dollar by pegging the value of its currency - the yuan - to that of the US dollar. The bank employs a fixed exchange rate policy, which differs from the floating exchange rate used by the United States and many other countries, allowing some margin for the Chinese currency to move within a narrow range.

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 to China, with the basket being measured in terms of the US dollar, as the United States is China's largest trading partner.