The PBOC follows a managed floating exchange rate system. Allows the yuan to fluctuate within a +/- 2% range, around a central reference rate, or "midpoint."
Previous close 6.9444
Injects 105.5bn yuan in 7day RRs @ 1.4%
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PBOC sets USD/ CNY central rate at 6.9608 (vs. estimate at 6.9598).
- PBOC CNY reference rate setting for the trading session ahead. Strongest CNY since 16 May 2023.
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