PBOC sets USD/ CNY central rate at 6.9713

PBOC is expected to set the USD/CNY reference rate at 6.9702 – Reuters estimate

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.
The previous close was 6.9810

PBoC injects 4bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

PBoC injects 153bn yuan of 14-day reverse repos at an unchanged rate of 2.15%

2bn yuan of RRs mature today

thus net 155bn yuan added on the day

People's Bank of China says of the large 14-day injection, that open market operations are aimed at ensuring year-end liquidity is stable.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term