Tuesday , 11 February 2025
Home Forex PBOC sets USD/ CNY central rate at 7.0985 (vs. estimate at 7.2056)
Forex

PBOC sets USD/ CNY central rate at 7.0985 (vs. estimate at 7.2056)

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 close was 7.1986

PBOC injects 5bn via 7-day RR, sets rate at an unchanged 1.8%

  • 10bn yuan of RRs mature today
  • thus net 5bn yuan drain on the day in OMOs

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Your email address will not be published.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

US January NFIB small business optimism index 102.8 vs 104.6 expected

Prior was 105.1The NFIB Small Business Optimism Index fell by 2.3 points...

USDCAD Technical Analysis – We are trading in a tight range

Fundamental OverviewThe USD has been stronger since last Friday as Trump floated...

FXS Fed Sentiment Index retreats but remains in hawkish territory ahead of Powell testimony

Federal Reserve (Fed) Chairman Jerome Powell will testify on the semiannual Monetary...

Oil: Energy complex is being pushed higher – ING

WTI is trading above $72/bbl while ICE Brent edged above $76/bbl this...