All eyes on the People's Bank of China mid rate setting for onshore yuan!
I posted earlkier the expectations was for a rate at 6.9994. PBOC pretty much hitting that. A very weak mid rate for the onshore yuan, however USD/CNY mid rate still below 7. If only barely.
Reference rate set at 6.9996
- yesterday at 6.9683
- prior close rate was 7.0250
more to come
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A handy reminder, if needed:
- CNY is the onshore yuan. USD/CNY is permitted to trade plus or minus 2% from the daily reference rate.
- CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
