PBOC sets USD/ CNY reference rate for today at 7.1475 (vs. estimate at 7.1771) ...Middle East

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%.

Previous close was 7.1780

PBOC injected 84.7bn yuan via 7-day reverse repos at 1.40%

34bn yuan mature todaynet 50.7bn injection yuan This article was written by Eamonn Sheridan at www.forexlive.com.

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