PBOC sets USD/ CNY reference rate for today at 6.4617 (vs. yesterday at 6.4696)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China set the onshore yuan mid-rate for the trading session ahead.

  • Reuters estimate was 6.4618 
  • Bloomberg's was 6.4608 

PBOC add in 2bn yuan through 7-day RRs in open market operations
  • 2 bn mature today
  • thus neutral today
  • For the week as a while net 598 bn yuan inject into the banking system via open market operations (614 bn injections, offset with 16 bn yuan reverse repo maturities). 

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