PBOC sets USD/ CNY central rate at 6.9791 (vs. estimate at 6.9844)

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PBOC sets USD/ CNY central rate at 6.9791 (vs. estimate at 6.9844)

<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 6.9760</p><p>more to come</p><p>PBoC injects 41bn yuan of 7-day reverse repos at an unchanged rate of 2.0%2bn yuan of RRs mature todaythus net 39bn yuan added on the day</p>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: PBOC sets USD/ CNY central rate at 6.9791 (vs. estimate at 6.9844)

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