Monday , 25 November 2024
Home Forex PBOC sets USD/ CNY reference rate for today at 7.0996 (vs. estimate at 7.2267)
Forex

PBOC sets USD/ CNY reference rate for today at 7.0996 (vs. estimate at 7.2267)

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 7.2290

PBOC injects 50bn via 7-day RR, sets rate at an unchanged 1.8%

  • 10bn yuan of RRs mature today
  • thus net 40bn yuan injection 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Your email address will not be published.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

Germany November Ifo business climate index 85.7 vs 86.0 expected

Prior 86.5Current conditions 84.3 vs 85.4 expectedPrior 85.7Expectations 87.2 vs 87.0 expectedPrior...

SNB total sight deposits w.e. 22 November CHF 459.4 bn vs CHF 463.4 bn prior

Domestic sight deposits CHF 451.0 bn vs CHF 455.0 bn priorSwiss sight...

Market Outlook for the Week of 25th – 29th November

The week ahead features several key economic events to watch. On Tuesday,...

Weekly update on interest rate expectations

Rate cuts by year-endFed: 13 bps (54% probability of rate cut at...