PBOC sets USD/ CNY reference rate for today at 6.7495

Author: Eamonn Sheridan | Category: Central Banks

This is the first mid rate since Friday 1 February due to markets being closed in China all last week for the lunar new year

The mid rate that day (Friday Feb. 1) was 6.708, while the mid rate the previous day (6.7025) was the strongest for the onshore yuan since July of 2018

People's Bank of China skips OMOs today
  • 20bn yuan in RRs mature
  • thus net drain of 20bn yuan
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