7.1815 is the strongest, for the CNY, since April 2
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 7.1870
more to come
PBOC injected 164bn yuan via 7-day reverse repos at 1.40%
- 211.9bn yuan mature today
- net drain is 50.9bn yuan
This article was written by Eamonn Sheridan at www.forexlive.com.7.1815 is the strongest, for the CNY, since April 2The 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 7.1870more to come PBOC injected 164bn yuan via 7-day reverse repos at 1.40%211.9bn yuan mature todaynet drain is 50.9bn yuan
This article was written by Eamonn Sheridan at www.forexlive.com. Read MoreCentral Banks
Forexlive RSS Breaking News Feed
