PBOC sets USD/ CNY reference rate for today at 6.7825 (vs. yesterday at 6.8222)

Author: Eamonn Sheridan | Category: Central Banks

 People's Bank of China ramping up that onshore yuan ... a not quite 4 big figure revaluation for the central rate.

  • strongest mid-rate for the CNY since May 9 last year

PBOC injects 120bn yuan via 7 day RRs in OMOs today
  • maturities are 120bn
  • thus neutral
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