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PBOC sets USD/ CNY mid-point today at 6.9519 (vs. estimate at 6.9515)

PBOC sets USD/ CNY mid-point today at 6.9519 (vs. estimate at 6.9515)

Central Banks
By Eamonn Sheridan
28/02/2023 | 01:15 GMT

People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.
A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The previous close was 6.9433

more to come

PBoC injects 481bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

150bn yuan of RRs mature today
thus a net injection of 331n yuan on the day in open market operations

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