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%.
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PBOC injects 324bn yuan, 7-day reverse repos, unchanged rate 1.4%.
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This article was written by Eamonn Sheridan at investinglive.com.