PBOC sets USD/CNY reference rate at 6.5809

Dhwani Mehta FXStreet

On Tuesday, the People’s Bank of China (PBOC) sets the USD/CNY reference rate at 6.5809 vs. Monday’s 6.5719.

The PBOC injected a net CNY70 billion via seven-day reverse repos in open market operations (OMOS) while CNY50 billion mature, bringing the net addition to CNY20 billion.

USD/CNY in the red

USD/CNY drops 0.11% on a daily basis while trading near-daily lows of 6.5767, as of writing. The cross shrugs-off the recent strength in the US dollar across its peers, courtesy of the strong US business activity numbers.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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