The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
Earlier:
PBOC injects 500mn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%.
PBOC sets USD/ CNY mid-point today at 6.8649 (vs. estimate at 6.8315)
- PBOC CNY reference rate setting for the trading session ahead. Strongest for CNY since 14 April 2023.
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