PBOC sets USD/CNY mid-point today at 6.4997 (vs. Friday at 6.5032)

Author: Eamonn Sheridan | Category: Central Banks

Monday 11 September 2017 reference rate for the onshore yuan

  • Higher mid-rate (for the CNY) again
  • Up for an 11th consecutive session
  • Its highest since May of 2016

People's Bank of China skips open market operations (OMOs) again today 
  • There are maturing RRs of 40bn yuan today, thus a net 40bn yuan drain from money markets
On Friday the People's Bank of China (through CFETS) set the RMB at 95.16 against its basket(from 94.42 the previous Friday)          
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Plenty of news and views on the CNY today: