PBOC sets USD/ CNY mid-point today at 6.4835 (vs. yesterday at 6.4855)

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 6.4844
  • Reuters estimate was 6.4816 (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC). 

PBOC injects 10bn yuan via 7-day reverse repos

  • 10bn RRs mature today

  • thus a net natural day for open market operations



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