PBOC sets USD/ CNY reference rate for today at 6.4192 (vs. estimate at 6.4174)

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PBOC sets USD/ CNY reference rate for today at 6.4192 (vs. estimate at 6.4174)

Views: 0 Author: Site Editor Publish Time: 2021-11-01 Origin: Site

The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

USD/CNY is 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.

Reuters estimate for the reference rate was 6.3882. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The previous close was 6.4046
Friday's mid-rate was 6.3907

PBOC injects 10bn yuan via 7-day reverse repos

200bn RRs mature today
thus net 190bn drain in open market operations for the day

Last week the People's Bank of China net added 680bn yuan into the market.

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PBOC sets USD/ CNY reference rate for today at 6.4192 (vs. estimate at 6.4174)

The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

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