PBOC sets the reference rate for USD/CNY
– injects 60bn yuan via 7-day reverse repos
– injects 20bn yuan via 14-day reverse repos
–
While we’re on China, here’s a good piece from Bloomberg as an update/background on what’s going on there:
People’s Bank of China sets yuan reference rate at 6.7885 (vs. yesterday at 6.7832)
