PBOC sets USD/CNY reference rate at 7.1486 vs. 7.1453 previous – by anilpanchal7 USDCNY PBOC CentralBanks China Currencies
People’s Bank of China set the USD/CNY central rate at 7.1486 on Wednesday, versus the previous fix of 7.1453 and market expectations of 7.1798. It's worth noting that the USD/CNY closed near 7.1876 the previous day.
With the 2 billion worth of RRs expiring on Tuesday, the PBoC's OMO appears net long for 23 billion for the day.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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