Another day of plunging CNY (and CNH)
Chart is of the onshore yuan. CNY is limited to movement +/- 2% from its reference rate. This is set by the PBOC at the beginning of each trading session. Today:
PBOC sets USD/ CNY reference rate for today at 6.4596 (vs. estimate at 6.4641)
Offshore yuan, CNH, has no such limit.
USD/CNY:
