PBOC sets USD/ CNY reference rate for today at 7.0638 (vs. yesterday at 7.0566)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China mid-rate for on shore yuan for the day

  • the USD/CNY rate is permitted to vary by +/- 2% from this point for the session ahead
  • moves outside that range will be met with PBOC intervention to drive it back inside
  • USD/CNH is free from such restriction 
PBOC skips open market operations
  • 110 billion yuan liquidity is drained from the market due to reverse repo expires
  • for the week as a while a net drain of 490bn yuan

Meanwhile the Bank of Japan increased its purchases of Japanese Government Bonds at today's scheduled QE operation
  • bought 420bn of those with 1-3 years until maturity, from 340bn the previous time 



Earlier:

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose