The 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 7.2491

more to come

PBOC injects 79bn yuan via 7-day RR, sets rate at 1.5%

  • bn yuan mature today
  • net injection is 37bn yuan
cny note 22 October 2024 ai 2