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.
A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The previous close was 6.3206
Yesterday's mid-rate was 6.3246
PBOC Injects 200 bn yuan liquidity via 14-day reverse repo
100 bn yuan RRs mature today
net injection thus 100bn yuan
Expect more added liquidity ahead of the Lunar New Year holidays. China is on holiday from 31 January to 6 February.
