The daily yuan fixing by the PBOC

  • With 100B yuan worth of reverse repos maturing on Wednesday, PBOC drains 100B on the day
  • Skips open-market operations today (and for the 5th day)
  • The fixing was 37 pips firmer than Reuters estimate of 6.9707. The fixing was also at a rate lower than the close from yesterday at 6.9740.