Forex
globalreutersMarch 15, 20241 Mins read
PBOC sets USD/ CNY reference rate for today at 7.0975 (vs. estimate at 7.2058)
globalreutersMarch 15, 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 close was 7.1950
PBOC injects 13bn via 7-day RR, sets rate at an unchanged 1.8%
- 10bn yuan of RRs mature today
- thus a 3bn yuan net injection on the day in OMOs
This article was written by Eamonn Sheridan at www.forexlive.com.
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