PBOC sets USD/ CNY central rate at 7.1876 (vs. estimate at 7.1842) Eamonn Sheridan Forexlive RSS Breaking News Feed

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

PBOC injected 448bn yuan via 7-day reverse repos at 1.40%

• 357bn yuan matured today
• net injection 91bn yuan

This article was written by Eamonn Sheridan at www.forexlive.com.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 7.1870PBOC injected 448bn yuan via 7-day reverse repos at 1.40%357bn yuan matured today
net injection 91bn yuan
This article was written by Eamonn Sheridan at www.forexlive.com.  Read MoreCentral Banks 

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