The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
PBOC injects 409.5bn yuan via 7-day reverse repos at 1.4% in open market operations today.
more to come
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PBOC sets USD/ CNY mid-point today at 6.9321 (vs. estimate at 6.8824)
- Highest setting for CNY since 11 May 2023
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