People's Bank of China with the daily reference rate for onshore yuan against the USD. A huge drop for the CNY on the day.
Trading is permitted in a plus or minus 2% band from this rate.
If you wanna go beyond 2%, CNH is for you (the offshore yuan)
In Open Market operations:
- PBOC inject 70bn yuan through 7-day reverse repos
- PBOC inject 30bn yuan through 14-day reverse repos
a net injection of 40bn yuan
