The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). 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%.The previous close was 7.2000 PBOC injected 283.2bn yuan via 7-day reverse repos at 1.40%331bn yuan mature todaynet 47.8bn yuan drainmore to come--- Still to come from China, PMIs:Economic calendar in Asia Thursday, July 31, 2025 - BoJ interest rate decision, China PMIs---Earlier:Chinese state media says some deep seated & structural problems in trade talks with US This article was written by Eamonn Sheridan at investinglive.com.