The People’s Bank of China set the onshore Yuan (CNY) reference rate for the trading session ahead
- USDCNY is the onshore yuan. It permitted to trade plus or -2% from this daily reference rate
- CNH is the offshore yuan. USDCNH has no restrictions on its trading range.
- A significant stronger or weaker rate than expected is typically considered a signal from the PBOC
PBOC injects 981Bln yuan via seven-day reverse repo with the rate of 1.5%
This article was written by Greg Michalowski at www.forexlive.com.
