The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.

Previous close 6.9363

Injects 31.5bn yuan in 7day RRs @ 1.4% and also 300 bn yuan via 14day RRs (Lunar New Year holidays begin February 15)

On posted on the ‘why’ of the 14 dayers here:

• PBoC uses 14-day reverse repos today ahead of Lunar New Year

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



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