The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan.

• a managed floating exchange rate system that allows the value of the yuan to fluctuate within a “band” currently at +/- 2%

In open market operations today the People’s Bank of China injected 69.5bn yuan in 7-day reverse repos at an unchanged rate of 1.4%

• and injects 600bn yuan in overnight RRs

This article was written by Eamonn Sheridan at investinglive.com.



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