The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
PBOC injects 39.5bn yuan via 7-day reverse repos at 1.4% in open market operations today.
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PBOC sets USD/ CNY reference rate for today at 6.8982 (vs. estimate at 6.8891)
- PBOC CNY reference rate setting for the trading session ahead, strongest CNY since 25 April 2023
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