PBOC sets USD/ CNY mid-point today at 6.5578 vs. Friday at 6.5409

Author: Eamonn Sheridan | Category: Central Banks

The 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 6.5530
  • Reuters estimate from their survey was 6.5587, Bloomberg 6.5579 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC.) 

PBOC injects 10 billion yuan liquidity via 7-day reverse repo

  • 0 billion yuan reverse repo mature today  

  • net injection of 10bn yuan

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