- 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 6.3700
- Yesterday's reference rate was 6.3702
PBOC injects 10bn yuan via 7-day reverse repos
10bn yuan mature today
thus a net neutral in open market operations (OMO)
