PBoC sets USD/CNY reference rate at 7.1789

Haresh Menghani FXStreet

On Monday, the People’s Bank of China (PBoC) sets the USD/CNY central rate for the trading session ahead at 7.1789, compared with the 7.2945 estimated and 7.1798 on September 28.

PBoC injects 20 billion Yuan via 7-day RR, sets rate at 1.8%
319 billion Yuan of RRs mature today and thus a net 299 billion Yuan drain on the day in 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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