Earlier:
The PBOC follows a managed floating exchange rate system. Allows the yuan to fluctuate within a +/- 2% range, around a central reference rate, or “midpoint.”
Previous close 6.9566
Injects 75bn yuan in 7 RRs @ 1.4% (net 75.5bn drain after maturities today)
This article was written by Eamonn Sheridan at investinglive.com.