PBOC sets USD/ CNY reference rate for today at 7.1075 (vs. estimate at 7.1038)<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.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.</p><p>The previous close was 7.1541</p><ul><li>
PBoC injects 2bn yuan of 7-day reverse repos at an unchanged rate of
2.0%
62bn yuan of RRs mature today, thus a net 6obn yuan
drain</li></ul><p>eur</p>
This article was written by Eamonn Sheridan at forexlive.com.
Source: PBOC sets USD/ CNY reference rate for today at 7.1075 (vs. estimate at 7.1038) (https://forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-71075-vs-estimate-at-71038-20221011/https://forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-71075-vs-estimate-at-71038-20221011/)
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