• 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.
  • The previous close was 6.5016

CNY weakest since Aug 23 last year.

In open market operations:

  • The PBOC inject 10 yuan via 7 day reverse repos (rate remains at 2.1%)
  • 10bn yuan mature today
  • thus a net neutral on the day