PBOC sets USD/ CNY reference rate for today at 7.1307 (vs. estimate at 7.1311)
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 7.1220In open market operations (OMOs):PBOC injects 241bn yuan via 7-day RR, sets rate at 1.5%Earlier:China vice fin min says further stimulus details after National People’s Congress sessionICYMI, People's Bank of China open market outright reverse repo operations facilityChina's industrial profits collapse in September: -27.1% y/y (vs -17.8% y/y prior) 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 7.1220
In open market operations (OMOs):
- PBOC injects 241bn yuan via 7-day RR, sets rate at 1.5%
Earlier:
This article was written by Eamonn Sheridan at www.forexlive.com.
