The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
PBOC injects 1bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%.
PBOC sets USD/ CNY central rate at 6.8593 (vs. estimate at 6.8173)
- PBOC CNY reference rate setting for the trading session ahead. Strongest for CNY since 24 March 2023
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