PBOC sets USD/ CNY mid-point today at 6.7756 (vs. estimate at 6.7776)

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 6.7780

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People's Bank of China injects 65bn of 7-day reverse repos (RR) in open market operations (OMO), rate unchanged at 2.0%

• injects 22bn yuan in 14-day RRS, rate unchanged at 2.15

16bn yuan of RRs mature today

• This a net injection of 71bn yuan on the day in OMOs

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Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data coming soon from China:

• Here's what's on the economic calendar in Asia, Wednesday 11 January 2023: China inflation