PBoC sets USD/CNY reference rate at 7.0957 vs. 7.1090 previous

Haresh Menghani FXStreet

The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.0957 as compared to the previous day's fix of 7.1090 and 7.1132 Reuters estimates.

PBoC injects 197 billion Yuan via 7-day RR, sets the rate at an unchanged 1.8%.
363 billion Yuan of RRs mature today.
The result is a net 101 billion Yuan drained on the day in Open Market Operations (OMOs).

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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