PBOC Sets USD/ CNY Reference Rate for Today at 6.8088 (Vs. Estimate at 6.7544)

Summary

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. How does it do that? More here. Injects 425bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%. ps, Bloomberg report: "Chinese municipalities are intensifying property support measures by expanding housing subsidy programs and optimizing provident fund rules, moves aimed at lowering home-buying costs and stabilizing a sluggish real estate market.." This article was written by Eamonn Sheridan at investinglive.com.