PBOC sets USD/ CNY mid-point today at 7.0363 (vs. estimate at 7.0409)<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.The previous close was 7.0445</p><p>PBoC injects 71n yuan of 7-day reverse repos at an unchanged rate of 2.0%8bn yuan of RRs mature todaythus a net 63bn yuan injection on the day</p>
This article was written by Eamonn Sheridan at forexlive.com.
Source: PBOC sets USD/ CNY mid-point today at 7.0363 (vs. estimate at 7.0409) (https://forexlive.com/centralbank/pboc-sets-usd-cny-mid-point-today-at-70363-vs-estimate-at-70409-20221116/https://forexlive.com/centralbank/pboc-sets-usd-cny-mid-point-today-at-70363-vs-estimate-at-70409-20221116/)
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