On Friday China Foreign Exchange Trade System (CFETS, the interbank trading and foreign exchange division of the People's Bank of China) set the RMD index at 94.42.

  • MOAR CNY strength confirmed by the PBOC today to open the week
  • USD/CNY at its lowest since June 23 of 2016

No open market operations from the People's Bank of China today

  • Says current money market liquidity is relatively high
  • For the day, 140bn yuan in RRs mature, thus a net drain of 140bn yuan
  • 3rd day in a row of no OMOs

Earlier from China: