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.
Previous close was 7.1986
PBOC injects 5bn via 7-day RR, sets rate at an unchanged 1.8%
- 10bn yuan of RRs mature today
- thus net 5bn yuan drain on the day in OMOs
This article was written by Eamonn Sheridan at www.forexlive.com.
منبع: https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-70985-vs-estimate-at-72056-20240319/
