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.
- Reuters survey had the expected at 6.3339, Bloomberg survey was 6.3397.
- The previous close was 6.3475
- The previous mid-rate (yesterday) was 6.3406
The PBOC inject 30 yuan via 7 day reverse repos
- 10bn yuan mature today
- thus a net 20bn yuan injection on the day
