PBOC sets USD/CNY central rate at 6.5277 (vs. yesterday at 6.4997)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China skips open market operations (OMOs) again today 

  • Bank statement says liquidity in banking system relatively high
No RRs mature today, so in skipping OMOs the Bank neutral, no net drain nor injection.

For the USD/CNY reference rate setting today the Bank recognising the much stronger USD overnight and weakening the CNY after a long string of daily mid-rate strengthenings.