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 6.3602

Yesterday's mid-rate was 6.3542

PBOC injects 10bn yuan via 7-day reverse repos

  • no RR mature today thus a net 10bn yuan injection