PBOC sets USD/ CNY reference rate for today at 6.9375 (vs. estimate at 6.9380)<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><p>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</p><p>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. </p><p>A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. </p><p>The previous close was 6.9195</p><p>-</p><p class="text-align-start vertical-align-baseline">PBoC injects 41bn yuan of 7-day reverse repos at an unchanged rate of 2.0%</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">7bn yuan of RRs mature today</li><li class="vertical-align-baseline">thus net injection of 34bn yuan on the day in open market operations</li></ul><p>-</p><p>eur</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: PBOC sets USD/ CNY reference rate for today at 6.9375 (vs. estimate at 6.9380) (https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-69375-vs-estimate-at-69380-20230313/https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-69375-vs-estimate-at-69380-20230313/)
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