PBOC sets USD/ CNY central rate at 6.4608 (vs. estimate at 6.4600)

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. 

  • The previous close was 6.4570 
  • Reuters estimate was 6.4600. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.  
Waiting on this info from the Bank, should be along in a few minutes --> PBOC injects ???  
Will be added as soon as available  

Here we go ...
PBOC injects 100bn yuan in 14-day reverse repos
  • no RRs mature today
  • thus a 100bn net injection 



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