Earlier:
China’s central bank, regulators to meet on stock support after record 12-week slide … should be supportive for USD/yuan today
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The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.
injects 541 billion yuan of overnight reverse repurchase operations, rate unchanged 1.25%
1 trillion of overnight reverse repos and 56 billion of 7-day reverse repos maturie
thus net withdrawal was 515 billion yuan
This article was written by Eamonn Sheridan at investinglive.com.
