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 6.9067


PBoC injects 109bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

  • 3bn yuan of RRs mature today
  • thus a net injection of 106bn yuan on the day in open market operations