People's Bank of China with the daily reference rate setting for the onshore yuan
Ladies and gentlemen, you are permitted by the Bank to trade the CNY + or - 2% from this reference rate for the session. But no more! K?
If yuan (short for you wanna) go all crazy & nonconformist take it outside to the CNH please.
In Open Market operations, PBOC to:
- inject 60 bn yuan through 7-day reverse repos
- inject 20 bn yuan through 14-day reverse repos
No maturing reverse repos today, thus a net addition of 80bn yuan into the money markets today
ps. ICYMI: