PBOC sets USD/ CNY reference rate for today at 7.1135 (vs. estimate at 7.2724)
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 7.2480The setting at 7.1135 is the weakest (for the CNY) since January 19 this year.PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%4bn mature todaya net drain of 2bn yuan in Open Market Operations (OMOs)more to come 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 7.2480
The setting at 7.1135 is the weakest (for the CNY) since January 19 this year.
PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%
- 4bn mature today
- a net drain of 2bn yuan in Open Market Operations (OMOs)
more to come This article was written by Eamonn Sheridan at www.forexlive.com.
