PBOC sets USD/CNY central rate at 6.5810 (vs. yesterday at 6.6021)

Author: Eamonn Sheridan | Category: Central Banks

Onshore yuan reference rate, the People's Bank of China permits trading in a plus or minus 2% band from here

And, in Open Market operations ... PBOC to
  • inject 30 bn yuan through 7 day reverse repos
  • inject 10 bn yuan through 14 day reverse repos
  • inject 10 bn yuan through 63 day reverse repos
After accounting for maturing RRs it's a net 20bn yuan injection today.
For the week, net 150bn yuan injection total (net injection 810 bn yuan the previous week)
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Stock markets open in China at the bottom of the hour ... I posted this earlier:
Stocks were down yesterday, big time ... Fear is up ...

Stock futures in China (not the physical, that's what opens at the bottom of the hour) are a touch higher from yesterday.