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. 

ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose