PBOC sets USD/ CNY reference rate for today at 6.9098 (vs. estimate at 6.9206)<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li><li>A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.</li></ul><p>The previous close was 6.9563</p><p>-</p><p>The
PBOC injects 2 yuan via 7-day reverse repos (rate remains at 2.0%)</p><ul><li>2bn yuan mature today</li><li>thus a net neutral in OMOs today</li></ul>
This article was written by Eamonn Sheridan at forexlive.com.
Source: PBOC sets USD/ CNY reference rate for today at 6.9098 (vs. estimate at 6.9206) (https://forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-69098-vs-estimate-at-69206-20220909/https://forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-69098-vs-estimate-at-69206-20220909/)
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