The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
Previous close 6.9363
Injects 31.5bn yuan in 7day RRs @ 1.4% and also 300 bn yuan via 14day RRs (Lunar New Year holidays begin February 15)
On posted on the ‘why’ of the 14 dayers here:
This article was written by Eamonn Sheridan at investinglive.com.