On Friday the People's Bank of China set the yuan was set at 94.54 against its basket (a big fall from the previous Friday's 94.86)
For USD/CNY today, lowest since August 31 (i.e. highest for CNY against the USD)
In Open Market operations, People's Bank of China
- To inject 160 bn yuan through 14 day reverse repos
- To inject 40 bn yuan through 28 day reverse repos
Net drain of 80bn yuan after maturing RRS
