Another strengthening of the CNY against the USD today from the Bank. 4th successive day of CNY strength.
And, in open market operations:
- To inject 40 bn yuan through 7-day reverse repos
- To inject 30 bn yuan through 28-day reverse repos
After taking into account maturing RRs the net injection is of 40bn yuan.
On Friday the yuan was set by the People's Bank of China (CFETS) at 93.16 against its basket