PBOC sets USD/ CNY mid-point today at 7.1399 (vs. estimate at 7.1461)

August 15, 2024
-FCHFX, US Dollar

August 15, 2024 at 02:15AM
The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.

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 7.1400

In open market operations:

PBOC injects 578n via 7-day RR, sets rate at 1.7%

7bn yuan mature today

net 571bn yuan injection today

This article was written by Eamonn Sheridan at www.forexlive.com.

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