PBOC sets USD/ CNY central rate at 6.5103 (vs. yesterday at 6.5233)

The People’s Bank of China sets the onshore yuan (CNY) reference rate for the trading session ahead.   

  • USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.
  • CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
  • The previous close was 6.5110
  • Reuters estimate from their survey was 6.5080, Bloomberg 6.5097 …. (A rate that’s significantly stronger or weaker than expected is typically considered a signal from the PBOC) 

A nudge higher again today for the onshore yuan, to its strongest since March 23.

injects 10 billion yuan liquidity via 7-day reverse repo   

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