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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