The People's Bank of China sets the exchange rate for the dollar at 7.1878 yuan.

On Friday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at a level of 7.1878 yuan per dollar. Expectations were pointing to a rate of 7.2868 yuan, and the closing price of the pair yesterday was 7.2994 yuan. The bank also injected 19 billion yuan into the markets through repurchase operations for 7 days, with a return of 1.5%.

It is worth noting that the People's Bank of China influences the value of the US dollar by linking the value of its currency - the yuan - to that of the dollar, using a fixed exchange rate policy. This 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 of China. This basket is measured against the US dollar as the United States is China's largest trading partner.