PBoC sets USD/CNY reference rate at 7.1151 vs. 7.1212 previous

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On Friday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1151 as compared to the previous day’s fix of 7.1212 and  7.1440 Reuters estimates.

• Th PBiC injects 664 billion Yuan via 7-day RR, setting the rate at an unchanged 1.8%.
• 352 billion Yuan of RRs mature today, resulting in a net 312 billion Yuan injection in Open Market Operations (OMOs).