Monday 11 September 2017 reference rate for the onshore yuan

  • Higher mid-rate (for the CNY) again
  • Up for an 11th consecutive session
  • Its highest since May of 2016

People's Bank of China skips open market operations (OMOs) again today

  • There are maturing RRs of 40bn yuan today, thus a net 40bn yuan drain from money markets

On Friday the People's Bank of China (through CFETS) set the RMB at 95.16 against its basket(from 94.42 the previous Friday)


Plenty of news and views on the CNY today: