PBOC sets USD/ CNY reference rate for today at 6.4804 (vs. yesterday at 6.4706)

People's Bank of China onshore yuan mid point for today's trading

Another weaker mid rate for the CNY … ICYMI I posted this yesterday:

• About that weaker CNY setting from the PBOC ... to encourage capital outflow?

The PBOC weakening the yuan …. this could get very interesting for them (and maybe not in a good way)

In Open Market operations:

• PBOC inject 40bn yuan through 7-day reverse repos
• PBOC inject 30bn yuan through 14-day reverse repos

A net injection of 20bn yuan today, net 140bn injected for the week