People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

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 7.1344


7.0722 is the weakest (for the CNY) id rate since June 30 of 2020


PBoC injects 113bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

  • & injects 62bn yuan of 14 data RRs at an unchanged 2.15%
  • 26bn yuan of RRs mature today
  • thus a net 149bn yuan injection today