Forex
globalreutersSeptember 9, 20241 Mins read
PBOC sets USD/ CNY reference rate for today at 7.0989 (vs. estimate at 7.0951)
globalreutersSeptember 9, 20241 Mins read 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 7.1000
In open market operations (OMOs):
- PBOC injects 91.5bn via 7-day RR, sets rate at 1.7%
- 3.5bn mature today
- thus a net injection of 88bn yuan
This article was written by Eamonn Sheridan at www.forexlive.com.
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