PBOC sets USD/ CNY reference rate for today at 6.3972 (vs. yesterday at 6.3956)
The 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 6.3865
- Reuters estimate from their survey was 6.3971, Bloomberg 6.3967 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC).
PBOC injects 10 billion yuan liquidity via 7-day reverse repo
10bn mature today
thus a net neutral day