PBOC sets USD/CNY reference rate at 7.1283 vs. 7.1305 previous – by anilpanchal7 USDCNY PBOC China Currencies RiskAversion
People’s Bank of China set the USD/CNY central rate at 7.1283 on Tuesday, versus the previous fix of 7.1305 and market expectations of 7.1495. It's worth noting that the USD/CNY closed near 7.1435 the previous day.
However, with the 44 billion Yuan of RRs mature today, there prevails a net drain of around 36 billion Yuan injection on the day in OMOs.The onshore yuan differs from the offshore one in trading restrictions, this last one is not as tightly controlled. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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