Stronger yuan against the USD - highest since mid-October last year.
(but check out below for its performance in recent weeks against its index .... ).
In open market operations the People's Bank of China is:
- to inject 160 bn yuan via 7 day reverse repos
- to inject 80 bn yuan via 14 day reverse repos
The 240bn yuan injection amount matches off with that of RRs maturing today
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On Friday CFETS set the RMB at 92.74 against its basket. Lower again.
Previously set at:
- 92.91 on Friday July 21
- 93.34 on Friday July 14
- 93.52 previous Friday the 7th
