The PBOC issued CNY229.1bn of 7-day reverse repo at 1.4% during this morning's operations.
Today's maturities CNY379.9bn.
Net liquidity withdraws CNY150.8bn.
The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.41%, from prior close of 1.43%.
The China overnight interbank repo rate is at 1.30%, from the prior close of 1.29%.
The China 7-day interbank repo rate is at 1.45%, from the prior close of 1.36%.
CNH: USD/CNY Fixing Edges Higher, Error Term Widens
Sep-03 01:24
The USD/CNY fixing printed at 7.1108, against a BBG market consensus of 7.1494.
Today's fixing continued the recent recover in the fixing outcome. Consistent with periods of USD strength, we did see the error term re-widen to -386pips, from -246pips yesterday.
USD/CNH was last around 7.1400, a touch higher for the session, but it is outperforming the majors, which are losing further ground versus the USD.
CHINA SETS YUAN CENTRAL PARITY AT 7.1108 WEDS VS 7.1089
Sep-03 01:17
CHINA SETS YUAN CENTRAL PARITY AT 7.1108 WEDS VS 7.1089