PBOC sets USD/CNY central rate at 6.6271 (vs. Friday at 6.6277)

Author: Eamonn Sheridan | Category: Central Banks

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.