The People's Bank of China sets the exchange rate for the dollar at 7.1879 yuan.

On Thursday morning, the People's Bank of China decided to set the exchange rate of the yuan against the US dollar at 7.1879 yuan per dollar, while forecasts indicated it would be set at 7.2664 yuan. The closing price of the pair in yesterday's session was 7.1934 yuan. The bank also injected 635 billion yuan into the markets through a 7-day repurchase operation, yielding 1.5%.

It is worth noting that the People's Bank of China influences the price of the US dollar (USD) by pegging the value of its currency - the yuan - to the dollar (USD), using a fixed exchange rate policy, which differs from the floating exchange rate used by the United States and many other countries, allowing for a narrow margin 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 of countries considered partners to China, with the basket measured against the price of the USD since the United States is China's largest trading partner.