PBOC sets USD/ CNY reference rate for today at 6.8951 (vs. estimate at 6.8932)
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.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 6.9015-PBoC injects 7bn yuan of 7-day reverse repos at an unchanged rate of 2.0%336bn yuan of RRs mature todaythus a net drain of 329bn yuan on the day in open market operations-eur This article was written by Eamonn Sheridan at www.forexlive.com.
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.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 6.9015-
PBoC injects 7bn yuan of 7-day reverse repos at an unchanged rate of 2.0%336bn yuan of RRs mature todaythus a net drain of 329bn yuan on the day in open market operations
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eur
This article was written by Eamonn Sheridan at www.forexlive.com.
