PBOC sets USD/ CNY reference rate for today at 6.2785 (vs. yesterday at 6.2816)

People’s Bank of China ramping up the onshore yuan value again today … but a much small amount than yesterday though

CNY (against USD) is at its highest since August of 2015

In Open Market operations …. none today, Bank to skip again

  • Net drain of 10bn yuan (due to maturing RRs)
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