PBOC sets USD/ CNY reference rate for today at 6.5233 (vs. Friday at 6.5288)

Author: Eamonn Sheridan | Category: Central Banks

The People's Bank of China sets the onshore yuan (CNY) mid point 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 6.5212
  • Reuters estimate from their survey was 6.5234, Bloomberg 6.5235 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC) 
  • Setting today is the strongest for the onshore yuan since March 24 

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

  • 10 billion yuan reverse repo mature today   
  • net neutral on the day

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