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 7.1967
PBOC injected 266bn yuan via 7-day reverse repos at 1.40%
- 154.5bn yuan matured today
- net injection 111.5bn 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 7.1967PBOC injected 266bn yuan via 7-day reverse repos at 1.40%154.5bn yuan matured today
net injection 111.5bn yuan
This article was written by Eamonn Sheridan at www.forexlive.com. Read MoreCentral Banks
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