PBOC sets USD/ CNY reference rate for today at 6.7872 (vs. yesterday at 6.7595)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China onshore USD/yuan mid-rate higher with the move up for the USD overnight. 

PBOC injects 200 bn yuan via 7 day RRs in OMOs today & 150 bn in 14 dayers
  • no RRs mature today
  • Net injection is therefore a large 350bn yuan 

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