PBOC sets USD/CNY reference rate at 7.1318 vs. 7.1527 previous – by anilpanchal7 PBOC USDCNY China CentralBanks Currencies
People’s Bank of China set the USD/CNY central rate at 7.1886 on Friday, versus previous fix of 7.1527 and market expectations of 7.1453. It's worth noting that the USD/CNY closed near 7.1485 the previous day.
With the 2 billion worth of RRs expiring on Friday, the PBoC's OMO appears net long for 18 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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