The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.
Injects 0.5bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%.
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Bloomberg is reporting:
- Global central banks’ use of the People’s Bank of China’s swap lines reached a two‑year high in the first quarter, underscoring rising international demand for the Chinese currency
This article was written by Eamonn Sheridan at investinglive.com.
