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)
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.