PBOC sets USD/CNY reference rate at 7.1406 vs. 7.1451 previous

PBOC sets USD/CNY reference rate at 7.1406 vs. 7.1451 previous – by anilpanchal7 USDCNY PBOC China CentralBanks Currencies

People’s Bank of China set the USD/CNY central rate at 7.1406 on Tuesday, versus the previous fix of 7.1451 and market expectations of 7.1860. It's worth noting that the USD/CNY closed near 7.1882 the previous day.stating that the PBoC 3-month central bank bills swap worth 5 billion Yuan on Tuesday.

However, the 15 billion Yuan of RRs mature today, which in turn suggests a net 29 billion Yuan injection on the day in OMOs.The onshore yuan differs from the offshore one in trading restrictions, this last one is not as tightly controlled. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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