The estimate by Reuters is for a reference rate at 7.008.

This is the first peek above 7 for the estimate during the current bout of CNY weakness. Note, however, that the People's Bank of China have been setting the actual mid-rate below the estimate for the past 3 weeks or so.

The setting is due at 0115 GMT.

  • 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.

Chart is the offshore yuan:

usdcnh 23 September 2022