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PBOC sets USD/CNY reference rate at 7.1788 vs. 7.1811 previous Saturday, 2nd of September 2023 | 01:19:08 pm

People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1788 on Friday

People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1788 on Friday, versus the previous fix of 7.1811 and market expectations of 7.2967. It's worth noting that the USD/CNY closed near 7.2595 the previous day. 

Apart from the USD/CNY fix, the PBoC also unveiled details of its Open Market Operations (OMO) while saying that the Chinese central bank injects 101 billion Yuan via 7-day reverse repos (RRs) at 1.80% vs. prior 1.80%.

People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1788 on Friday
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