PBoC sets USD/CNY reference rate at 7.1789

On Monday, the People’s Bank of China (PBoC) sets the USD/CNY central rate for the trading session ahead at 7.1789, compared with the 7.2945 estimated and 7.1798 on September 28.

• PBoC injects 20 billion Yuan via 7-day RR, sets rate at 1.8%
• 319 billion Yuan of RRs mature today and thus a net 299 billion Yuan drain on the day in OMOs.