The 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 6.4550
  • Reuters surveyed estimate was 6.4581 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC).

PBOC injects net 20 billion yuan liquidity via 7-day reverse repo

  • 30bn injected against 10 bn maturing today.