PBOC sets USD/ CNY mid-point today at 7.1053 (vs. estimate at 7.1825)
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.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 7.1710PBOC injects 463bn via 7-day RR, sets rate at an unchanged 1.8%547bn yuan of RRs mature todaythus a net 84bn yuan drain on the day in OMOs This article was written by Eamonn Sheridan at www.forexlive.com.
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.
- USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
- 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 7.1710
PBOC injects 463bn via 7-day RR, sets rate at an unchanged 1.8%
- 547bn yuan of RRs mature today
- thus a net 84bn yuan drain on the day in OMOs