The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.0957 as compared to the previous day’s fix of 7.1090 and 7.1132 Reuters estimates.
- PBoC injects 197 billion Yuan via 7-day RR, sets the rate at an unchanged 1.8%.
- 363 billion Yuan of RRs mature today.
- The result is a net 101 billion Yuan drained on the day in Open Market Operations (OMOs).
Source: https://www.fxstreet.com/news/pboc-sets-usd-cny-reference-rate-at-70957-vs-71090-previous-202312150121