Forex
globalreutersNovember 7, 20241 Mins read
PBOC sets USD/ CNY reference rate for today at 7.1659 (vs. estimate at 7.1679)
globalreutersNovember 7, 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.
Previous reference rate was 7.1796
PBOC injects 19bn yuan via 7-day RR, sets rate at 1.5%
- 327bn yuan mature today
- net drain is 308bn yuan
This article was written by Eamonn Sheridan at www.forexlive.com.
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