PBOC sets yuan reference rate at 6.8631

The People's Bank of China (PBoC) has set the USD/CNY reference rate for today at 6.8631, compared to yesterday's rate of 6.8482.

Meanwhile, in Open Market Operations, the PBoC has injected 40 billion yuan via 7-day reverse repos, and 20 billion yuan via 14-day RRs; with 150 billion yuan in RRs maturing for Thursday, the day's overall OMO action results in a net 90 billion yuan decrease.