Onshore yuan expected at its weakest in a year at the reference rate today

  • USD/CNY reference rate is expected to be set at its highest in a year

The People's Bank of China is expected to set the mid-rate at 6.5014 (Reuters estimate)

  • USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
  • CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.

Chart beow is the offshore yuan, CNH. Has weakened significantly in the past week or so

usdcnh 25 April 2022
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