The People's Bank of China sets the exchange rate of the dollar at 7.1896 yuan.

On Tuesday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at 7.1896 yuan per dollar, while expectations indicated a rate of 7.2806 yuan. The closing price of the pair in yesterday's session was 7.2562 yuan. The bank also injected 141 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 value 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 floating exchange rate used by the United States and many other countries, allowing a narrow range of movement for the Chinese currency.

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