People’s Bank of China sets yuan reference rate at 6.6322 (vs. yesterday at 6.6268)

USD / CNY middle point for the day from the PBOCTrading is permitted in a +/- 2% from the reference rate. However, if trading USDCNH (offshore yuan), anything goes.
In Open Market Operations, the PBOC will:

  • inject 60bn yuan via 14 day reverse repos
  • inject 100 bn yuan through 7 day reverse repos

Reverse repo injections match maturities for the day. Article Source

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