The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.
Earlier:
- China unveils nine-department plan to boost county-level consumption
- PBOC seen shifting to overnight reverse repos as core liquidity tool
PBOC injected CNY 469.7bn via overnight reverse repos
- zero 7-day reverse repo
- net withdrawal of 95.8 billion yuan today
This article was written by Eamonn Sheridan at investinglive.com.