The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.Previous close was 6.9640 PBOC injects 324bn yuan, 7-day reverse repos, unchanged rate 1.4%.Earlier:PBOC set 5- and 1-year LPR rates unchanged, 3.5% and 3.0% respectively. As expected. This article was written by Eamonn Sheridan at investinglive.com.