PBOC sets USD/ CNY mid-point today at 6.9826 (vs. yesterday at 6.9795)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China onshore yuan reference rate for the session ahead

  • the rate is permitted to vary +/- 2% before the PBOC will intervene to halt it.
CNH (the offshore yuan) has no such restriction on its range. 

Skips OMOs today:
  • In effect drains 220 bn yuan once maturing RRs are taken into account 

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