PBOC sets USD/ CNY reference rate for today at 7.1030 (vs. estimate at 7.1048)
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 7.1173In open market operations (OMOs):PBOC injects 236bn via 7-day RR, sets rate at 1.7%142bn mature todaythus a net injection of 94bn yuan - - 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 7.1173
In open market operations (OMOs):
- PBOC injects 236bn via 7-day RR, sets rate at 1.7%
- 142bn mature today
- thus a net injection of 94bn yuan
-
- This article was written by Eamonn Sheridan at www.forexlive.com.
