USD/CNY is the onshore yuan and 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 6.3680
Yesterday's reference rate was 6.3669
PBOC inject 10bn yuan via 7-day reverse repos
- 10bn yuan mature today
- thus a net neutral in open market operations (OMOs)
