- 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.
- The previous close was 6.5016
CNY weakest since Aug 23 last year.
In open market operations:
- The PBOC inject 10 yuan via 7 day reverse repos (rate remains at 2.1%)
- 10bn yuan mature today
- thus a net neutral on the day
