PBOC sets USD/ CNY mid-point today at 7.2189 (vs. estimate at 7.2015)

People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. Setting it notably weaker (for the CNY) than was estimated.

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 7.2320

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The trade-weighted yuan basket drops to 98.63, lowest since 10 September 2021

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Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data from China due soon:

China inflation data for October is due at 0130 GMT - preview

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PBoC injects 8bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

18bn yuan of RRs mature today

thus a net 10bn yuan drain on the day