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The People’s Bank of China has set the benchmark onshore yuan (CNY) rate for the upcoming trading session.

  • USD / CNY is allowed to trade plus or minus 2% of this daily benchmark rate.
  • CNH is the offshore yuan. USD / CNH has no restrictions on its trading range.
  • The Reuters estimate was 6.4402. A significantly higher or lower rate than expected is generally considered a signal from PBOC.
  • Previous close was 6.4404
  • Yesterday’s average rate was 6.4412

PBOC injects 10 billion yuan via 7-day reverse repurchase agreements

  • RR 10 billion matures today

  • therefore net neutral

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