PBOC sets USD/ CNY central rate at 6.9666 (vs. estimate at 6.9668)

People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. The previous close was 6.9565

PBoC injects 3bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

• 73bn yuan of RRs mature today
• thus a net drain of 70bn yuan on the day in open market operations

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eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term