The PBOC follows a managed floating exchange rate system. Allows the yuan to fluctuate within a +/- 2% range, around a central reference rate, or “midpoint.”

Previous close 6.9506

Injects 477.5bn yuan through 7-day reverse repos at 1.40%

Earlier:

• US Treasury says yuan undervalued, urges China to allow appreciation

This article was written by Eamonn Sheridan at investinglive.com.

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