The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.
- PBOC injected CNY 349bn via overnight reverse repos, but ran zero 7-day reverse repo volume Friday
- Net effect: CNY 1.001tln drained today via maturities, no new reverse repos conducted
- Weekly net drain totals CNY 1.0985tln as repo and outright maturities outpaced injections
This article was written by Eamonn Sheridan at investinglive.com.
