On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1070 as compared to Friday's fix of 7.1006 and 7.2088 Reuters estimates.
- PBoC injects 100 billion Yuan via 14-day reverse repos with a rate at 1.95%
- 500 billion Yuan of RRs mature today, summing to a 400 billion Yuan drain on the day in OMOs.
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