PBOC sets USD/ CNY mid-point today at 6.4929 (vs. yesterday at 6.4734)
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 6.5109
- Estimate (via Reuters) for today reference rate was 6.4934
PBOC injects 10bn yuan via 7-day reverse repos
10bn RRs mature today
thus a net natural day for open market operations