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PBOC sets USD/ CNY reference rate for today at 7.0638 (vs. yesterday at 7.0566)

July 03, 2020 at 02:16AM

PBOC sets USD/ CNY reference rate for today at 7.0638 (vs. yesterday at 7.0566)
People’s Bank of China mid-rate for on shore yuan for the day
– the USD/CNY rate is permitted to vary by +/- 2% from this point for the session ahead
– moves outside that range will be met with PBOC intervention to drive it back inside
PBOC skips open market operations

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