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PBOC sets Yuan mid-point at 7.0949/USD vs last close of 7.2320
— FinancialJuice (@financialjuice) April 3, 2024
PBOC SETS YUAN MID-POINT AT 7.0949 PER DOLLAR VERSUS LAST CLOSE OF 7.2320
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PBOC sets USD/ CNY mid-point today at 7.0949 (vs. estimate at 7.2282)
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 7.2320. PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8% • 250bn yuan of RRs mature today. • Thus net 248n yuan drain on the day in OMOs.
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- Posted: Apr 2, 2024 9:21pm
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,404
