PBOC sets USD/ CNY reference rate for today at 7.1220 (vs. estimate at 7.1208)
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 7.1197In open market operations (OMOs):PBOC injects 133bn yuan via 7-day RR, sets rate at 1.5%150bn mature today in OMOsnet drain 17bn--- Still ahead from China, due at 10 am Beijing time (0200 GMT, 2200 US Eastern time):Heads up for another China 'stimulus' briefing today (10am Beijing time)It'll include:setting up a whitelist for real estate companiesspecial bonds for land reserves,purchase of existing housing for affordable housing unitsother incremental policies 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 7.1197
In open market operations (OMOs):
- PBOC injects 133bn yuan via 7-day RR, sets rate at 1.5%
- 150bn mature today in OMOs
- net drain 17bn
---
Still ahead from China, due at 10 am Beijing time (0200 GMT, 2200 US Eastern time):
It'll include:
- setting up a whitelist for real estate companies
- special bonds for land reserves,
- purchase of existing housing for affordable housing units
- other incremental policies to come
