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 6.9739.
PBOC injects 179.3bn yuan through 7-day reverse repos at an unchanged rate of 1.4%.
This article was written by Eamonn Sheridan at investinglive.com.
