PBOC sets USD/CNY central rate at 6.6205 (vs. Friday at 6.6092)

Author: Eamonn Sheridan | Category: Central Banks

CFETS set the RMB index at 94.64 on Friday, from 95.00 the previous Friday

In Open Market Operations the People's Bank of China
  • to inject 110bn yuan via 7 day reverse repos
  • to inject 90bn yuan through 14 day reverse repos
Net 140bn injection (after maturing RRs) today and a weaker CNY against the USD (note the USD is well lower since Friday last week's mid rate setting)