The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.
The previous close was 7.1758
PBoC injects 170.7bn yuan via 7-Day Reverse Repos at 1.4%
- 226.2bn mature today
- net drains 55.5bn yuan in Open Market Operations
Earlier from China:
- PBOC's Loan Prime Rates unchanged: 1 year 3%, 5 year 3.5%
- China quietly issues 2025 rare earth quotas, tightening grip on EV-critical supply chain
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