PBOC sets USD/ CNY reference rate for today at 6.5921 (vs. yesterday at 6.5782)
People's Bank of China set the onshore yuan mid-rate for the trading session ahead.
- CNY set at its weakest for 2 weeks.
PBOC add in 20bn yuan through 7-day RRs in open market operations
- 70bn mature today
- thus a net 50bn drain