PBOC sets USD/CNY central rate at 6.6205 (vs. Friday at 6.6092)

PBOC sets USD/CNY central rate at 6.6205 (vs. Friday at 6.6092)

CFETS set the RMB index at 94.64 on Friday, from 95.00 the previous Friday

In Open Market Operations the People's Bank of China

  • to inject 110bn yuan via 7 day reverse repos
  • to inject 90bn yuan through 14 day reverse repos

Net 140bn injection (after maturing RRs) today and a weaker CNY against the USD (note the USD is well lower since Friday last week's mid rate setting)
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