PBOC sets USD/ CNY reference rate for today at 7.1848 (vs. estimate at 7.1859) | Forexlive
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
Previous close was 7.1865
PBOC injected 291.1bn yuan via 7-day reverse repos at 1.40%
- 142.5bn yuan matured today
- net injection 148.6bn yuan
more to come
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decision-making for investors and traders alike.
