On Wednesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1779 as compared to the previous day’s fix of 7.1781 and 7.2842 Reuters estimate.
- PBoC injects 102 billion Yuan via 7-day RR, sets the rate at 1.8%,
- 417 billion Yuan of RRs mature today, summing to a net 315 billion Yuan drain on the day in OMOs.
Source: https://www.fxstreet.com/news/pboc-sets-usd-cny-reference-rate-at-71779-vs-71781-previous-202310110127