The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.
- CNY strongest seeting since 2 February, 2023.
- PBOC injects 1 trillion yuan through overnight reverse repos
- PBOC injects115 billion yuan of 7-day reverse repurchases
- 1 trillion yuan of overnight reverse repurchase matured today, thus the net injection was 115 billion yuan
This article was written by Eamonn Sheridan at investinglive.com.