PBOC sets USD/CNY mid-point today at 6.8456 (vs. yesterday at 6.8629)

Author: Eamonn Sheridan | Category: Central Banks

And that's not all! Also, People's Bank of China OMOs:

  • To inject 50  bn yuan through 7-day reverse repos
  • To inject  50 bn yuan through 14-day reverse repos
  • To inject  50 bn yuan through 28-day reverse repos   
Stronger CNY against the USD today from the Bank

Back to the OMOs:
  • The People's Bank of China has drained 150bn yuan from markets this week (net)
  • Continuing the drains (last week 625bn yuan drained)
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OK, fine. The beatings will continue until morale improves:





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