PBOC sets USD/ CNY central rate at 6.3890 (vs. estimate at 6.3875)

Author: Eamonn Sheridan | Category: Central Banks

The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.    

  • USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.
  • CNH is the offshore yuan. USD/CNH has no restrictions on its trading range. 
  • Reuters estimate for the reference rate was 6.3875. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.     
  • The previous close was 6.3856
  • Yesterday's mid-rate was 6.3924

PBOC injects 200bn yuan via 7-day reverse repos ... hefty addition of funds, 200bn injection for the second day running. 

  • 10bn RRs mature today 

  • thus net 190bn injection in open market operations for the day

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose