The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
The previous close was 7.0546.
PBOC injected 130.9bn yuan via 7-day reverse repos at an unchanged rate of 1.40%
more to come
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Earlier:
- China to issue ultra-long-term bonds to fund strategic priorities – weekend announcement
- China Vanke fails to secure delay on $284m bond payment, gets just 5 days breathing space
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And, plenty of data to come from China soon:
This article was written by Eamonn Sheridan at investinglive.com.
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