Wednesday , 13 November 2024
Home Forex PBOC sets USD/ CNY central rate at 7.1321 (vs. estimate at 7.2706)
Forex

PBOC sets USD/ CNY central rate at 7.1321 (vs. estimate at 7.2706)

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

  • USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
  • CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.
  • A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.

The previous close was 7.2640

In open market operations:

  • PBOC injects 235bn via 7-day RR, sets rate at 1.7%

more to come

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

FX lightly changed for now ahead of European trading

The dollar continues to sit in a good spot this week, holding...

Chart Art: Time for a Trend Correction on the S&P 500 (SP500) Index?

U.S. stock markets have been on quite a run lately, but are...

Scentre Group Elliott Wave technical forecast [Video]

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX)...

EUR/AUD Price Forecast: The cross keeps the bearish vibe near 1.6250

The EUR/AUD cross struggles to gain ground around 1.6250 on Wednesday during...