PBOC sets USD/ CNY reference rate for today at 7.1012 (vs. estimate at 7.1401)
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 7.1382PBOC injects 195bn via 7-day RR, sets rate at an unchanged 1.8%injects 226bn via 14-day RR, sets rate at an unchanged 1.95% (the 14 dayers are to provide liquidity over the holiday period heading into new year)262bn yuan of RRs mature todaythus a net 159bn yuan injection on the day in Open Market Operations (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 7.1382
PBOC injects 195bn via 7-day RR, sets rate at an unchanged 1.8%
- injects 226bn via 14-day RR, sets rate at an unchanged 1.95% (the 14 dayers are to provide liquidity over the holiday period heading into new year)
- 262bn yuan of RRs mature today
- thus a net 159bn yuan injection on the day in Open Market Operations (OMOs)
