The People's Bank of China sets the exchange rate of the dollar at 7.1880 yuan.

On Wednesday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at 7.1880 yuan per dollar, while expectations indicated it would be set at 7.2838 yuan. The closing price of the pair in yesterday's session was 7.2840 yuan. The bank also injected 387 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 the 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 the Chinese currency to fluctuate 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 of countries that are considered partners of China, with the basket being measured against the US dollar since the United States is China's largest trading partner.