PBOC sets USD/ CNY reference rate for today at 6.4693 (vs. estimate at 6.4637)
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 6.4661
- Reuters estimate was 6.4637. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
PBOC injects 60bn yuan via 7-day reverse repos
AND 60bn in 14-dayers
10bncorrected to 30bn mature today
thus net added
110bn90bn on the day