People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

  • USD/CNY is 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.

  • The previous close was 6.5109
  • Estimate (via Reuters) for today reference rate was 6.4934

PBOC injects 10bn yuan via 7-day reverse repos

  • 10bn RRs mature today

  • thus a net natural day for open market operations