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 6.3257
Yesterday's mid-rate was 6.3418
Stronger again for the onshore yuan at the setting. CNY to its best since April 25 2018.
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.
