forex.pm forex forum binary options trade

Forex news -forex broker review => Forex => Topic started by: forex4you on May 11, 2022, 10:00 am

Title: PBOC sets USD/ CNY mid-point today at 6.7290 (vs. estimate at 6.7339)
Post by: forex4you on May 11, 2022, 10:00 am
PBOC sets USD/ CNY mid-point today at 6.7290 (vs. estimate at 6.7339)

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.
CNY refernce rate set today is the weakest since October 16 2020

The previous close was 6.7343The PBOC inject 10 yuan via 7 day reverse repos (rate remains at 2.1%)

0bn yuan mature today
thus a net 10bn injection

Source: PBOC sets USD/ CNY mid-point today at 6.7290 (vs. estimate at 6.7339) (https://www.forexlive.com/centralbank/pboc-sets-usd-cny-mid-point-today-at-67290-vs-estimate-at-67339-20220511/)

forexlive.com