PBOC sets USD/ CNY mid-point today at 6.4386 (vs. estimate at 6.4402)
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 was 6.4402. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
- The previous close was 6.4404
- Yesterday's mid-rate was 6.4412
PBOC injects 10bn yuan via 7-day reverse repos
10bn RRs mature today
thus net neutral