People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1987 on Monday, versus the previous fix of 7.2006 and market expectations of 7.2893. I
People’s Bank of China set the USD/CNY central rate at 7.1987 on Monday, versus the previous fix of 7.2006 and market expectations of 7.2893. It's worth noting that the USD/CNY closed near 7.2855 the previous day.
However, with the 6 billion Yuan of RRs maturing today, there prevails a net injection of around 28 billion Yuan injection on the day in OMO.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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