The People's Bank of China (PBOC) set the daily USD/CNY reference rate at 6.7147, softer than the 6.6596 level expected by a Reuters estimate, even as the yuan touched its strongest level since February 2, 2023.
The People's Bank of China (PBoC) started a new Bond Market NBFI Swap Facility on Monday, giving selected non-bank financial institutions a backstop against sudden liquidity strains in bond holdings.
The People's Bank of China (PBOC) fixed the USD/CNY midpoint at 6.7162 on Monday, firmer than Friday's 6.7180, though weaker than the 6.6691 level estimated by Reuters.
Goldman Sachs estimates that monetary authorities worldwide added 79 tonnes of gold in August, nearly five times their typical monthly pace, with China responsible for about 25 tonnes of that amount.
China's central bank will base its monetary policy on the overnight reverse repo rate instead of the 7-day tenor, a mostly technical adjustment Commerzbank says was already reflected in markets. The bank maintains its call for steady yuan strength.