PBOC sets USD/CNY reference rate at 7.0575 vs. 7.0760 previous – by anilpanchal7 PBOC CentralBanks China RiskAppetite
People’s Bank of China set the USD/CNY central rate at 7.0575 on Monday, versus previous fix of 7.0760 and market expectations of 7.0574. It's worth noting that the USD/CNY closed near 7.0625 the previous day.
"With 2 billion Yuan worth of reverse repos maturing on Monday, China central bank injects 23 billion yuan on a net basis on the day.” said Reuters following the PBOC Fix announcements.The onshore yuan differs from the offshore one in trading restrictions, this last one is not as tightly controlled.
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