PBOC sets USD/ CNY reference rate for today at 6.4709 (vs. yesterday at 6.4845)

People's Bank of China set the onshore yuan mid-rate for the trading session ahead. A touch weaker for the yuan than was expected.

Reuters estimate from their survey was 6.4657, Bloomberg 6.4671

PBOC add in 100bn yuan through 7-day RRs in open market operations

  • 2bn mature today
  • thus a net 98bn injection

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