Mainland China markets are closed today.
PBoC sets USD/CNY mid-point at 7.1036
- expected 7.1996 (Reuters model estimatee)
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.
PBoC injects CNY 44bln via 7-day reverse repos, rate unchanged at 1.80%
- and inject CNY 92bln via 14-day reverse repos, rate unchanged at 1.95%
83 bln yuan of RRs mature today
- Net CNY 53bln injection
This article was written by Eamonn Sheridan at www.forexlive.com. Source