The People's Bank of China sets the exchange rate of the dollar at 7.1876 yuan.

On Monday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at 7.1876 yuan per dollar, with expectations indicating it would be set above 7.20 yuan. The closing price of the pair in yesterday's session was 7.3216 yuan. The bank also injected 14.1 billion yuan into the markets through 7-day repurchase operations, with a yield of 1.5%.

It is worth noting that the People's Bank of China influences the value of the US dollar (USD) by pegging the value of its currency - the yuan - to the USD. The bank employs a fixed exchange rate policy, which differs from the free-floating exchange rate used by the United States and many other countries, allowing 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 in USD, given that the United States is China’s largest trading partner.