PBOC sets USD/ CNY central rate at 6.7604 (vs. estimate at 6.7607)<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.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 6.7522</p><p>PBoC injects 471bn yuan of 7-day reverse repos at an unchanged rate of 2.0%301bn yuan of RRs mature todaythus net injection of 170bn yuan on the day in open market operations<a href="https://www.forexlive.com/terms/e/eur/" class="terms__main-term" id="b0427fd7-674c-4ad1-b689-22d1f8b087b0" target="_blank">eur</a></p>
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: PBOC sets USD/ CNY central rate at 6.7604 (vs. estimate at 6.7607) (https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-67604-vs-estimate-at-67607-20230131/https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-67604-vs-estimate-at-67607-20230131/)
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