PBOC sets USD/ CNY reference rate for today at 6.4708 (vs. yesterday at 6.4608)

People's Bank of China set the onshore yuan mid-rate for the trading session ahead.

Reuters estimate from their survey was 6.4694, Bloomberg 6.4717

PBOC add in 5bn yuan through 7-day RRs in open market operations

  • no maturities today
  • thus a net 5bn injection

For the week a net drain of 505gn yuan.

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