PBOC sets USD/ CNY reference rate for today at 6.9746 (vs. estimate at 6.9758)<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 6.9779</p><p>PBoC injects 2bn yuan of 7-day reverse repos at an unchanged rate of 2.0%2bn yuan of RRs mature todaythus net neutral on the day</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: PBOC sets USD/ CNY reference rate for today at 6.9746 (vs. estimate at 6.9758) (https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-69746-vs-estimate-at-69758-20221213/https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-69746-vs-estimate-at-69758-20221213/)
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