PBOC sets USD/ CNY central rate at 7.0312 (vs. yesterday at 7.0268)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China 

The estimate I had seen via Reuters was for a rate of 7.0306. Pretty good!
The uncertainty each day stems from the PBOC's 'countercyclical factor'. No one knows what that is. Which is just fine with the PBOC ;-)

PBOC injects 80bn yuan in 7 day RRs today.
For the week the Bank has added in net 300bn yen through open market operations. 

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