People’s Bank of China: Sets the USD/CNY reference exchange rate at 7.1736, from the previous value of 7.2760

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On Monday, the People’s Bank of China (PBOC) set the USD/CNY midpoint at 7.1736, compared with Friday’s midpoint of 7.2760 and market expectations of 7.2707.

The People’s Bank of China injected 184 billion yuan through a seven-day reverse repo at an interest rate of 1.80%, compared with the previous value of 1.80%.

The People’s Bank of China increased RMB 60 billion through 14-day reverse repos at an interest rate of 1.95%, compared with the previous value of 1.95%.