The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
- Injects 215bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%.
- Net drain this week 682.7bn yuan
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PBOC sets USD/ CNY reference rate for today at 6.8157 (vs. estimate at 6.7735)
- PBOC CNY reference rate setting for the trading session ahead.
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