The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a +/- 2% range, around a central reference rate, or “midpoint.”
Previous close 6.9598
PBoC injects 363.5b yuan through 7-day reverse repos at 1.40%
- net injects net 122.7b yuan
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This article was written by Eamonn Sheridan at investinglive.com.
