HomeNews listOBJECTIVE PRESSPBOC sets USD/ CNY reference rate for today at 7.1174 (vs. estimate at 7.1976)

PBOC sets USD/ CNY reference rate for today at 7.1174 (vs. estimate at 7.1976)

  • January 17, 2024
  • Posted by: AliensFaith
  • Category: OBJECTIVE PRESS
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The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

  • USD/CNY is the onshore yuan. Its 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.
  • A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.

The previous close was 7.1965

PBOC injects 100bn via 7-day RR, sets rate at an unchanged 1.8%

  • 27bn yuan of RRs mature today
  • thus a net 73bn yuan injection on the day in OMOs

This article was written by Eamonn Sheridan at http://www.forexlive.com.      



Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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