PBoC sets USD/CNY reference rate at 7.1070 vs. 7.1006 previous

Market news

5 February 2024

PBoC sets USD/CNY reference rate at 7.1070 vs. 7.1006 previous

On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1070 as compared to Friday's fix of 7.1006 and 7.2088 Reuters estimates.

PBoC injects 100 billion Yuan via 14-day reverse repos with a rate at 1.95%
500 billion Yuan of RRs mature today, summing to a 400 billion Yuan drain on the day in OMOs.

PBOC’s 50 bps RRR cut takes effect on Monday

China pledges to stabilize markets, offers no detail

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.