PBOC sets USD/ CNY mid-point today at 6.4599 (vs. estimate at 6.4595)

Author: Eamonn Sheridan | Category: Central Banks

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 6.4600
  • Reuters estimate was 6.4595. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.  

PBOC injects 120bn yuan in 14-day reverse repos

  • 50bn mature today
  • thus net 70bn added on the day


 more to come  
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