The People’s Bank of China (PBOC) set the USD/CNY central rate at 6.9793 on Thursday, up from 6.9681 on Wednesday and market forecasts of 6.9791.
However, earlier in the day, the PBOC announced a 5 billion Yuan 3-month bill swap.
“Despite 4 billion Yuan in reverse repos maturing on Thursday, China’s central bank injects 201 billion Yuan net for the day,” Reuters reported.
This is worth mentioning that the USD/CNY closed near 6.9780 the day before and was advancing towards 6.9800 at the time of publication.
