People’s Bank of China sets yuan reference rate at 6.7795 (vs. estimate at 6.7086)

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.

• PBoC inject 500mn yuan via 7-day reverse repos in Open Marekt Operations. Rate unchanged at 1.4%
• 5bn mature today, thus net 4.5bn draw

This article was written by Eamonn Sheridan at investinglive.com.

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