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  
Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose