⚡PBOC raises the $CNY Central Parity Rate by 24 pips to 7.2257 per USD, 340 pips stronger than market expectations, strongest since Nov. 19. #China $USDCNY $USDCNH https://t.co/ncXxjtpD9B
PBOC INJECTS 76.7 BILLION YUAN VIA REVERSE REPOS
CHINA CENTRAL BANK INJECTS 249.3 BILLION YUAN VIA 7-DAY REVERSE REPOS AT 1.50%: PRIOR RATE MAINTAINED - STATEMENT
The U.S. dollar has declined against major currencies, with the EUR/USD pair rising by 0.7% to 1.0491. The People's Bank of China (PBOC) is expected to set the USD/CNY reference rate at 7.2257, according to Reuters estimates. On November 25, the PBOC fixed the USD/CNY reference rate at 7.1918, which was stronger than the previous fix of 7.1942 and the prior close of 7.2478. Additionally, the PBOC injected 249.3 billion yuan through 7-day reverse repos at a rate of 1.5%, maintaining the prior rate. The China CFETS RMB index also saw a slight increase of 0.01 points week on week. Furthermore, the PBOC set the yuan fixing range between 7.2307 and 7.2530, and the yuan fixing was reported at 7.2422, which was 504 points stronger than expectations.
