PBOC sets USD/ CNY reference rate for today at 7.0326 (vs. yesterday at 7.0211)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China mid rate for today's trading onshore yuan.

Reuters estimate was 7.0421. The countercyclical factor applied by the PBOC each day is the big unknown. Trend continues of a weaker CNY each session but not weak as projected. 
Today's mid-rate is the weakest for CNY since March of 2008. 

Also, PBOC injected 60bn yuan via 7 day RRs today. None mature today thus a net 60bn yuan injection. 

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