The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
- Injects 100bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%.
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PBOC sets USD/ CNY mid-point today at 6.8349 (vs. estimate at 6.7955)
- Strongest for CNY since mid-February 2023
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