PBOC sets USD/CNY central rate at 6.6271 (vs. Friday at 6.6277)
CFETs set the yuan at 94.70 against its basket on Friday (down from 95.05 the previous Friday)
Open Market operations ... PBOC
- To inject 70 bn yuan through 7 day reverse repos
- To inject 20 bn yuan through 14 day reverse repos
- To inject 10 bn yuan through 63 day reverse repos
After accounting for maturities of RRs this is a net 20bn yuan injection from the People's Bank of China.