PBOC sets USD/ CNY central rate at 6.5384 (vs. yesterday at 6.5527)

The People’s Bank of China set the onshore yuan reference rate for the trading session ahead.   

  • The previous close was 6.5409
  • Reuters estimate from their survey was 6.5383, Bloomberg 6.5391 …. (A rate that’s significantly stronger or weaker than expected is typically considered a signal from the PBOC.) 

A handy reminder, if needed:

  • CNY is the onshore yuan. USD/CNY is permitted to trade plus or minus 2% from the daily reference rate.
  • CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.

injects 10 billion yuan liquidity via 7-day reverse repo

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