PBOC sets USD/CNY central rate at 6.4920, strongest since May 2016

On Wednesday, the Chinese central bank, PBOC, sets USD/CNY central rate at 6.5079 versus Tuesday’s 6.5079, the strongest midpoint since May 2016.

The PBOC skipped open market operations (OMOs) for the eighth consecutive session today while draining a net CNY 90 billion in OMOs. The central bank also added that the current liquidity remains at a relatively high level.